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Need help in part c and e TB Problem...

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Accounting

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TB Problem Qu. 8-224 Weller Industrial Gas Corporation. Weller Industrial follow Gas Corporation supplies acetylene and other compressed gases to industry, Data regarding the store's operations . Sales are budgeted at $370,000 for November. $390,000 for December, and $380,000 for January. The company desires an ending merchandise inventory equal to 65% of the cost of goods sold in the following month. Monthly depreciation is $19,700. Book 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. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $19,900. . Ignore toxes. Balance s Sheet October 31 Assets Cash Accounts receivable ise inventory ty, plant and equipment (net of $583,000 accumulated depreciation) assets s 28,700 81,700 163,s48 993 808 $1,258,948 Isbilities and Stockholders' Equity sunts payable stock tained esnnines $ 194,70e 489,000 584 243 51,258, 942

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