Please help to solve question 2 for Ch. 8. Thank you!

2. Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow 25 points Sales are budgeted at $370,000 for November, $390,000 for December, and $380,000 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 68% of sales The company desires an ending merchandise inventory equal to 65% 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 $19,900 Monthly depreciation is $19.700. Ignore taxes BOOK . Prind Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of 3583,000 accumulated depreciation) Total assets 20,700 81,700 163,540 99,000 $1,258,940 Bences hitles and Stockholders' Equity accounts payable Stock Betained earnings Total liabilities and stockholders equity $1,700 450.000 514.20 $1,250,4 Required: a prepare a schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December Prepare Cash Budgets for November and December a Prepare Budgeted Income Statements for November and December Prepare a Budgete Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Red ed reparedil pead Cash Collections for event and December 2 25 points Required: a Prepare a Schedule of Expected Cash Collections for November and December 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 eBook Complete this question by entering your answers in the tabs below. ASK Required A Required B Required C Required D Required E Prepare a Schedule of Expected Cash Collections for November and December Print November December Antonicos Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections $ 0 $ 0 $1,258,940 Total liabilities and stockholders' equity Required: a. Prepare a Schedule of Expected Cash Collections for November and December 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 Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Prepare a Merchandise Purchases Budget for November and December November December Budgeted cost of goods sold Total needs 0 0 Required purchases 0 $ 0 5 ants Required: a. Prepare a Schedule of Expected Cash Collections for November and December 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 eBook Complete this question by entering your answers in the tabs below. Ask Required A Required B Required C Required D Required E Print Prepare Cash Budgets for November and December. November December References Cash disbursements for merchandise Other monthly cash expenses Total cash disbursements $ 0 $ 0 0 0 Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Financing Ending cash balance 0 0 $ 0$ 0 Required: a. Prepare a Schedule of Expected Cash Collections for November and December 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 Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Prepare Budgeted Income Statements for November and December. November December Sales Cost of goods sold 0 0 Other monthly expenses Depreciation $ 0 $ 0 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 Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D Required E Prepare a Budgeted Balance Sheet for the end of December. Balance Sheet December 31 Assets Cash Accounts receivable Inventory Property, plant and equipment (net of accumulated depreciation) Total assets $ 0 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earrings Total abilities and stockholders' equity 5 Required