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Weldon 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, 23% in the month following the sale, and 2% uncollectible.
	The cost of goods sold is 80% 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 $20,000.
	Monthly depreciation is $15,000.
	Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	21,000
Accounts receivable (net of allowance for uncollectible accounts)		81,000
Merchandise Inventory		204,000
Property, plant and equipment (net of $650,000 accumulated depreciation)		1,170,000
Total assets	$	1,476,000
Liabilities and Stockholders Equity
Accounts payable	$	198,000
Common stock		730,000
Retained earnings		548,000
Total liabilities and stockholders equity	$	1,476,000

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