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Chang Distributors, a merchandising company, is considering whether to open a new distribution center. The center would open January 1, 20Y1. To make the decision,

Chang Distributors, a merchandising company, is considering whether to open a new distribution center. The center would open January 1, 20Y1. To make the decision, the planning committee requires a master budget for the centers first quarter of operation (January, February, and March of 20Y1).

*The capital expenditures budget shows that Chang must purchase $100,000 of equipment on January 1 to establish the new center. The equipment supplier allows a thirty-day trial period. Chang will pay for the equipment on January 31. The equipment is expected to have a 10-year useful life and a $10,000 salvage value.

1. Complete the first quarter pro forma statement of cash flows for quarter ended 3/31/20Y1

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