Paul White, Oriole \& Mark's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet as of December 31 is as follows: Additional Information: Oriole \& Mark plans to purchase and pay cash for a piece of land in February at a cost of $90,000. Oriole \& Mark plans to purchase equipment in March at a cost of $30,000. Depreciation for manufacturing overhead $42,000 per quarter and for selling and administrative $30,000 per month. The company expects a 30% income tax rate, and all quarterly taxes are paid in the first month of the following quarter. Prepare Oriole \& Mark's pro-forma income statement for the first quarter. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)