Walt Disney Company prepares a master budget for its theme park operations. In August 2038, the company estimates the following:

• Projected Revenue: $1,000,000,000
• Direct Costs: $600,000,000
• Overhead Costs: $300,000,000

Requirements:

• Prepare a master budget including budgeted income statement, balance sheet, and cash flow statement.
• Perform a sensitivity analysis for changes in projected revenue.
• Prepare a forecast for the next fiscal year.
• Recommend budgetary control measures.
• Discuss the importance of budgeting in achieving financial goals.