O Chapter 8 discusses the process of financial management and its importance for forecasting, which is critical for the entrepreneur contemplating a start-up. The ability to demonstrate a firm grasp of the finances underlying a new endeavour shows prospective investors that the entrepreneur understands his or her financial needs and holds a realistic view of revenues. For the entrepreneur, the pro forma financial statements provide a path to follow in preparing the start-up and operating during its initial period. 2. Prepare the pro forma financial statements. O Based on your best understanding at this point, you will prepare a consolidated balance sheet, statement of cash flows, and income statement for the first year. 3. Explain your pro forma statements in an accompanying document. O Along with these pro forma financial statements, you will prepare an explanation discussing how you arrived at the various figures. 4. Review the rubric for this assignment. 5. Submit your assignment through the link below. 6. Your instructor will review and grade your idea and return it with comments