Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: . Sales are budgeted at $340,000 for November, $360,000 for December, and $350,000 for January -The cost of goods sold is 71% of sales. . Payment for merchandise is made in the month following the purchase. Collections are expected to be 75% in the month of sale and 25% in the month following the sale The company Other monthly expenses to be paid in cash are $21,400. desires an ending merchandise inventory equal to 75% of the cost of goods sold in the following month Monthly depreciation is $21,200 . Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $596,000 accumulated depreciation) Total assets $ 22,280 83,200 181,05e 1,906,8e0 $1,292,450 Liabilities and Stockholders' Equity Accounts payable 196, 200 Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $596,000 accumulated depreciation) Total assets $ 22,200 83, 200 181,850 1,806,800 $1,292,45e Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity s 196,20e 640,000 456,250 $1,292,45 Required 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 Complete this question by entering your answers in the tabs below. Required A Required B qRequired D Required E Prepare a Budgeted Balance Sheet for the end of December. Balance Sheet December 31 Assets Cash Accounts receivable Inventory Property, plant and equipment (net of accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings 0 Total liabilities and stockholders' equity