Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 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 75% of sales. - The company desires an ending merchandise inventory equal to 75% 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 $20,700. - Monthly depreciation is $20,500. - Ignore taxes. Required: a. Prepare a Schedule of Expected Cash Collections for November and Decembet. 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