Wheeling Company is a merchandiser that provided a balance sheet as of September 30 as shown below:

Wheeling Company Balance Sheet September 30
Assets
Cash	$ 74,800
Accounts receivable	114,000
Inventory	48,600
Buildings and equipment, net of depreciation	309,000
Total assets	$ 546,400
Liabilities and Stockholders Equity
Accounts payable	$ 213,900
Common stock	216,000
Retained earnings	116,500
Total liabilities and stockholders equity	$ 546,400

2. Assume the following changes to the underlying budgeting assumptions:

(1) 50% of a months credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following months cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following:

a. The budgeted cash collections for October.

b. The budgeted merchandise purchases for October.

c. The budgeted cash disbursements for merchandise purchases for October.

d. Net operating income for the month of October.

e. A budgeted balance sheet at October 31.