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.

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 71% 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 $21,400.

Monthly depreciation is $21,200.

Ignore taxes.

Balance Sheet October 31
Assets
Cash	$ 22,200
Accounts receivable	83,200
Merchandise inventory	181,050
Property, plant and equipment (net of $596,000 accumulated depreciation)	1,006,000
Total assets	$ 1,292,450
Liabilities and Stockholders' Equity
Accounts payable	$ 196,200
Common stock	640,000
Retained earnings	456,250
Total liabilities and stockholders' equity	$ 1,292,450