Required information [The following information applies to the questions displayed below] Franklin Company is a retail c

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Required Information The Following Information Applies To The Questions Displayed Below Franklin Company Is A Retail C 1 (147.59 KiB) Viewed 14 times

Required information [The following information applies to the questions displayed below] Franklin Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, year 1. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks. h. Prepare a pro forma income statement for the quarter i. Prepare a pro forma balance sheet at the end of the quarter. j. Prepare a pro forma statement of cash flows for the quarter. Complete this question by entering your answers in the tabs below. Required H Required I Required J Prepare a pro forma income statement for the quarter. FRANKLIN COMPANY Pro Forma Income Statement For the Quarter Ended December 31, year 1 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses. Operating income 0 Interest expense Net income $ 0 Required H Required I Required 3 Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be deducted should be indicated by a minus sign.) FRANKLIN COMPANY Pro Forma Balance Sheet December 31, year 1 Assets Cash Accounts receivable Inventory Store factures Accumulated depreciation Book value of fixtures 0 01 Accounts payable Line of credit liability Sales commissions payable Utilities payable Equity Retained earnings Total liabilities and equity $ Required M Required I Required 1 Prepare a pro forma statement of cash flows for the quarter. (Amounts to be deducted should be indicated by a minus sign.) FRANKLIN COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, year 1 Cash flows from operating activities Cash payments for selling and administrative expenses Cash payments for interest expense Cash payments for inventory Cash receipts from customers Net cash flows from operating activities 0 Cash flows from investing activities Cash payment for store fixtures Cash flow from financing activities Net inflow from line of credit Net increase in cash Plus: Beginning cash balance Ending cash balance Total assets Liabilities $ < Required I 0 S S Required] > 0