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5. Given the following owner's income and expense esti mates for an apartment property, formulate a reconstructed operat ing statement. The building consists of 10
5. Given the following owner's income and expense esti mates for an apartment property, formulate a reconstructed operat ing statement. The building consists of 10 units that could rent for $550 per month each. Owner's Income Statement $60,000 Rental income (last year) Less: Operating & Capital Expenses Power Heat Janitor Water Maintenance Capital Expenditures Management 2,200 1,700 4,600 3,700 4,800 2,800 3,000 5,000 6,300 Mortgage payments Estimating vacancy and collection losses at 5percent reconstruct the operating of potential gross income
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