Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry.

Data regarding the store's operations follow:

Sales are budgeted at $330,000 for November, $350,000 for December, and $340,000 for January.

Collections are expected to be 70% in the month of sale and 30% in the month following the sale.

The cost of goods sold is 67% of sales.

The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month.

Payment for merchandise is made in the month following the purchase.

Other monthly expenses to be paid in cash are $22,100.

Monthly depreciation is $21,900.

Ignore taxes.

Required: Complete this question by entering your answers in the tabs below.

a. Prepare a Schedule of Expected Cash Collections for November and December.

b. Prepare a Merchandise Purchases Budget for November and December.

c. Prepare Cash Budgets for November and December.

d. Prepare Budgeted Income Statements for November and December.

e. Prepare a Budgeted Balance Sheet for the end of December.

Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $603,eee accumulated depreciation) Total assets $22,9ee 83,900 187,935 1,013,e00 $1,307,735 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 196,9ee 710,000 400,835 $1,307,735