Please explain what I am doing wrong. Thanks

Exercise 5-30 Bill Thomas, Oriole & Hill'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 of December 31 is as follows: Cash Accounts Receivable (net) Finished Goods Inventory Raw Materials Inventory Property, Plant & Equipment Accumulated Depreciation $56,400 54,990 46,060 7,106 282,000 (70,500) Total Assets $376,056 $16,920 70,744 94,000 194,392 $376,056 Accounts Payable Income Tax Payable Common Stock Retained Earnings Total Liabilities & Owners Equity Selected Estimates Budgeted revenue Selling and administrative expense Interest expense Cash Cost of Goods Sold Accounts receivable (net) Direct materials Finished goods Acounts payable Notes payable Quarter $1,325,400 250,416 3,177 28,929 943,168 128,310 5,226 55,474 31,208 38,540 Additional Information: Bates & Hill plans to declare and pay dividends totaling $46,060 in January Bates & Hill plans to purchase and pay cash for a piece of land in February at a cost of $67,680 Bates & Hill plans to purchase equipment in March at a cost of $56,400 . Depreciation for manufacturing overhead $28,200 per month and for selling and administrative $9,400 per month The company expects a 28% income tax rate, and all quarterly taxes are paid in the first month of the following quarter. Your answer is partially correct. Prepare Oriole & Hill's pro-forma income statement for the first quarter. (Round answers to 0 decimal places, e.g. 5,275.) Oriole & Hill Income Statement First Quarter 1352400 Sales Revenue 943168 Cost of Goods Sold Gross Margin Selling & Administrative Expense v Operating Income / (Loss) 409232 250416 158816 3177 Interest Expense Income Before Taxes 155639 Income Tax Expense 38910 116729 Net Income/ (Loss) Prepare Oriole & Hill's pro-forma balance sheet as of March 31 Oriole & Hill Balance Sheet March 31 28929 Cash 12831 Accounts Receivable Direct Materials Inventoryv Finished Goods Inventory v Property, Plant & Equipment v Accumulated Depreciation 5226 55474 406080 (156300 467719 Total Assets 31208 Accounts Payable 38910 Taxes Payable Note Payable 3854 Common Stock 94000 Retained Earnings 265061 467719 Total Liabilities and Equities