Welnor 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, 17% in the month following the sale, and 3% uncollectible.
	The cost of goods sold is 69% of sales.
	The company desires ending merchandise inventory to equal 70% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
	Other monthly expenses to be paid in cash are $22,100.
	Monthly depreciation is $17,100.
	Ignore taxes.

Balance Sheet October 31 Assets Cash Accounts receivable (net of allowance for uncollectible accounts) Merchandise Inventory Property, plant and equipment (net of $669,000 accumulated depreciation) $ 23,100 83,100 169,050 1,170,000 Total assets $1,445,250 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 200,100 950,000 295,150 Total liabilities and stockholders' equity $1,445,250