I need help creating a PRO FORMA

HELP ME CREATE

i need hell creating a pro forma. all the information is attached

PEYTON APPROVED PRO FORMA INFORMATION The company is planning to open another location in 2018. Prepare pro forma financials for 2018 for the new location using the following information: 1. Cost of leasing commercial space: $1,500 per month. 2. Cost of new equipment: $15,000, purchased with a long-term note. Use straight line depreciation assuming a seven-year life, no residual value. Use full year's depreciation for the first year. Equipment purchase was financed with a long-term note. 3. Cost of hiring and training new employees: three at $25,000 each for the first year. 4. Cash: $7,000. Accounts receivable amount to 4.0 turns (accounts receivable turnover will be 4.0 ); inventory amount to show 3.0 turns (inventory turnover will be 3.0). No stock will be issued. Retained earnings are to equal net income. Additional financing of $5,000 will be long term. Add remaining amount needed to balance into accounts payable. 5. Except as noted above, assets, current liabilities, sales, costs, and expenses are expected to be 80% of the existing store (from preliminary statements) except no stock. Retained Earnings = Net Income Peyton Approved Second Location Pro Forma Income Statement for Year Ending 12/31/2018 Peyton Approved Second Location Pro Forma Balance Sheet As of December 31, 2018 Milestone Two: You are going to open a new store. They want you to make up a proforma balance sheet and income statement. You are going to use the income statement and balance sheet from milestone one that are the yellow tabs on the excel spreadsheet. The net income on this income statement is $175,576.18 and the total assets on the balance sheet is $169,577.87. These reports were given to you. You don't use the revised numbers. 1) Follow the instructions. Most of the numbers on both the income statement and the balance sheet will be multiplied by 80%. 2) Notes Payable is always a bit hard for me to understand so I am giving it to you. $20,000 credit balance. 3) Go to the grading rubric and make a management letter answering the questions they ask. Cite your work. 4) Go to the grading rubric and create some notes to the financial statements. Please cite your work. In your book they have notes to the financial statements example in Starbucks annual report in the back of the book. 5) Net income should equal $74,036.30 6) Total Assets should equal $117,534.20 7) You will submit and excel sheet and TWO-word documents. 8) I will grade and give comments. Update the reports and submit in milestone 3 (week 7) A video below on the notes to the financial statement. Please note (get it) that all publicly traded companies' annual reports have notes to the financial statements. This information is public, and you can access through that crazy thing they call the internet. PEYTON APPROVED PRO FORMA INFORMATION The company is planning to open another location in 2018. Prepare pro forma financials for 2018 for the new location using the following information: 1. Cost of leasing commercial space: $1,500 per month. 2. Cost of new equipment: $15,000, purchased with a long-term note. Use straight line depreciation assuming a seven-year life, no residual value. Use full year's depreciation for the first year. Equipment purchase was financed with a long-term note. 3. Cost of hiring and training new employees: three at $25,000 each for the first year. 4. Cash: $7,000. Accounts receivable amount to 4.0 turns (accounts receivable turnover will be 4.0 ); inventory amount to show 3.0 turns (inventory turnover will be 3.0). No stock will be issued. Retained earnings are to equal net income. Additional financing of $5,000 will be long term. Add remaining amount needed to balance into accounts payable. 5. Except as noted above, assets, current liabilities, sales, costs, and expenses are expected to be 80% of the existing store (from preliminary statements) except no stock. Retained Earnings = Net Income Peyton Approved Second Location Pro Forma Income Statement for Year Ending 12/31/2018 Peyton Approved Second Location Pro Forma Balance Sheet As of December 31, 2018 Milestone Two: You are going to open a new store. They want you to make up a proforma balance sheet and income statement. You are going to use the income statement and balance sheet from milestone one that are the yellow tabs on the excel spreadsheet. The net income on this income statement is $175,576.18 and the total assets on the balance sheet is $169,577.87. These reports were given to you. You don't use the revised numbers. 1) Follow the instructions. Most of the numbers on both the income statement and the balance sheet will be multiplied by 80%. 2) Notes Payable is always a bit hard for me to understand so I am giving it to you. $20,000 credit balance. 3) Go to the grading rubric and make a management letter answering the questions they ask. Cite your work. 4) Go to the grading rubric and create some notes to the financial statements. Please cite your work. In your book they have notes to the financial statements example in Starbucks annual report in the back of the book. 5) Net income should equal $74,036.30 6) Total Assets should equal $117,534.20 7) You will submit and excel sheet and TWO-word documents. 8) I will grade and give comments. Update the reports and submit in milestone 3 (week 7) A video below on the notes to the financial statement. Please note (get it) that all publicly traded companies' annual reports have notes to the financial statements. This information is public, and you can access through that crazy thing they call the internet