Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow:

Sales are budgeted at $$300,000$ for November, $$320,000$ for December, and $$310,000$ for January.

Collections are expected to be $75\%$ in the month of sale and $25\%$ in the month following the sale.

The cost of goods sold is $76\%$ of sales.

The company desires an ending merchandise inventory equal to $80\%$ 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 $$20,600.$

Monthly depreciation is $$20,400.$

Ignore taxes.

Required:

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

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

Prepare Cash Budgets for November and December.

Prepare Budgeted Income Statements ior November and December.

Prepare a Budgeted Balance Sheet for the end of December.

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

equired A

Required B

Required D

Required $E$