2. Prepare a Pro-forma income statement, and balance sheet and cash budget statement , for your company, on a monthly bases for the 2nd quarter, and a total column for the quarter, based on the following assumptions: Sales will increase by 50% over Q1 and are equally spread out over the 3 months. All sales are on credit. The collection pattern is 20% in the month of sale, 50% in the month following sale and the balance in the 2nd month following sale. All of the A/R outstanding at March 31st will be received in the 2nd quarter as follows; 80% in April and the balance in May. The employees will be the four employees who worked on the March 31st payroll (in Assignment 2). Their wages and source deductions remain the same. Source deductions must be paid on the 15th of the following month. Rent will be the same; telephone expense which will be $800 per month (+HST). The business will buy computer equipment on April 1 for $1,000 plus HST. HST is paid on the 15th of the month following the end of the quarter. Accrued interest will be paid on April 1st and interest will have to be accrued monthly. It will be paid on July 2nd. Bank charges paid to the bank are $200 per month.