Unifying Concepts: The Pro-Forma Income Statement, Balance Sheet, and Statement of Cash Flows Pun Corporation makes construction cranes. During the past few days, the company’s accountants have been preparing the master budget for 2009. To date, they have gathered the following projected data:

In addition, last year’s balance sheet was as follows:

Required:
1. Prepare a pro-forma income statement for 2009 (contribution margin approach).
2. Prepare a pro-forma balance sheet as of December 31, 2009.
3. Prepare a pro-forma statement of cash flows for 2009 (indirect method).

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Sales revenue Variable selling expenses. Variable administrative expenses Interest expense Cost of goods sold (variable costs only) Fixed manufacturing expenses For the Year Ended December 31, 2009: $20,254,400 896,000 1,344,000 134,400 11,200,000 1,568,000 Fixed administrative expenses 984,000 Fixed selling expenses 672,000 Account Balances at December 31, 2009: Cash 896,000 Accounts receivable 336,000 Land 834,400 Buildings 1,008,000 Equipment. 716,800 Accumulated depreciation-equipment 179,200 Accumulated depreciation-buildings 160,000 Direct materials inventory 212,800 Finished goods inventory Accounts payable Common stock Retained earnings Paid-in capital in excess of par Income taxes payable Other Information: Dividends to be declared and paid during 2009 1,303,680 Income tax rate .... 30% 235,200 90,480 1,400,000 ? 80,000 400,000