PLEASE SHOW SOLUTIONS.

THERE IS NOT A RATE OF DEPRECIATION LISTED. I'M GUESSING YOU WOULD SOMEHOW TAKE THE DEPRECIATION AND DIVIDE IT BY 12 AND THEN DIVIDE IT BY THE QUARTERLY AMOUNT?

Exercise 5-30 Bill Thomas, Vaughn & 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 $50,400 49,140 11,160 6,350 252,000 (63,000 5336,050 $15,120 63,218 84,000 173,712 Total Liabilities & Owners Equity 336,050 Total Assets Accounts Payable Income Tax Payable Common Stock Retained Earnings Selected Estimates Budgeted revenue Selling and administrative expense Interest expense Cash Cost of Goods Sold Accounts recelvable (net) Direct materials Finished goods Acounts payable Notes payable Quarter $1,184,400 223,776 2,839 25,851 842,831 114,660 4,670 49,573 7,888 34,440