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Baird Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019.
Baird Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. 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:
rev: 11_22_2019_QC_CS-191610
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Prepare a pro forma income statement for the quarter.
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Prepare a pro forma balance sheet at the end of the quarter.
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Prepare a pro forma statement of cash flows for the quarter.
| Salary expense (fixed) | $ | 18,100 | |
| Sales commissions | 4 | % of Sales | |
| Supplies expense | 2 | % of Sales | |
| Utilities (fixed) | $ | 1,500 | |
| Depreciation on store fixtures (fixed)* | $ | 4,100 | |
| Rent (fixed) | $ | 4,900 | |
| Miscellaneous (fixed) | $ | 1,300 | |
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