Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $$350,000$ for November, $$370,000$ for December, and $$360,000$ for January. Collections are expected to be $80\%$ in the month of sale and $20\%$ in the month following the sale. The cost of goods sold is $69\%$ of sales. The company desires an ending merchandise inventory equal to $70\%$ of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $$22,300.$ Monthly depreciation is $$22,100.$ Ignore taxes. Balance Sheet October $31$ Assets Cash $ $23,100$ Accounts receivable $84,100$ Merchandise inventory $169,050$ Property, plant and equipment $($net of $$605,000$ accumulated depreciation$)1,015,000$ Total assets $ $1,291,250$ Liabilities and Stockholders' Equity Accounts payable $ $197,100$ Common stock $950,000$ Retained earnings $144,150$ Total liabilities and stockholders' equity $ $1,291,250$ c$.$ Prepare Cash Budgets for November and December.