(a) To be appropriated in X2 by the General Assembly: management recommends, and the General Assembly approves, that one half of the profit of X1 be distributed.
(b) To be received in X2.
(c) To be paid in X2. The following budgeted (anticipated) activities are considered for period X2 (000 CU):
1 Sales revenue budget: 1,300 (of which 1,090 will be received from customers during the year).
2 Purchases budget (raw materials): 520 (of which 380 will be paid cash to suppliers during the year).
3 Rental expenses budget: 220 (entirely paid before the end of year).
4 Estimated property taxes: 100 (entirely paid before the end of year).
5 Remunerations and social charges budget: 400 (entirely paid before the end of year).
6 Financing budget: repayment of financial debt for 60. Interest expense for the year: ten (entirely paid before the end of year).
7 Investment budget: acquisition of fixed assets for 200 (entirely paid before the end of year).
8 Total depreciation expense budget for all long lived assets (new and old): 20.
9 New shares will be floated on 1 January X2. The net proceeds, all in cash, amount to 100, received from old and new shareholders.
10 Budgeted ending inventory levels:
=> Raw materials inventory: 120
=> Finished products inventory: 140.
The income tax rate is 40 percent (taxes are recognized in the year of the earnings they pertain to, and are paid in the following year).
Required
Prepare the three following pro forma (forecasted) documents for year X2: statement of financial position/ balance sheet, income statement, and statement of cash flows.

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Balance sheet at 31 Assets Fixedassets Equipment (net vaue December X1 (ie. before profit appropriation by the General Assembly) (in 000 CU) equity and liabilities Sharehoders' equty 600 Capital 500 200 168 Equipment gross value 900 -300 Accumulated retaned earnings Net income for X1 (a) Accumulated depreciation Current assets .Raw materials and 80 Liabilties . Finished products Accounts recevable (b) Cash at bank Total 120 Financial debt 140 Acounts payable (c) 250 Income tax payabe( 100 110 112 1,190 1,190 Total