Forecasting Financials Please use the following assumptions when building the first year's pro forma financial statements. 1. Alex's lease will start in March of 2020. As per the start-up costs, the landlord is requiring one month's security deposit. This is considered a pre-paid expense and not recorded on the income statement. 2. Alex estimates that it will take two months to do the build-out for the space. 3. Alex estimates that she will open for business on May 1st. She believes that this is perfect since it coincides with the weather getting better and her market taking out their summer cars. 4. Alex does not have any established credit so whatever she purchases for the business will be paid for at the time of purchase. 5. Since she is 100% retail payment is received when customers pick up their cars. Even though most will pay with credit card, the cash will show up in a few days, resulting in no accounts receivable. 6. Alex has decided not to include direct labor as a component of her variable costs when building her financials. Labor will be a fixed cost. 7. The $1,200 insurance start-up cost is pre-paid but gets distributed at