You have been asked to develop a pro forma statement of cash flow for the coming (base) year for Summer Place Mall. The Information given to you is listed below. Property Information: SUMMER PLACE MALL Age of Improvement Rentable Area (RA) Common Area (CA) Number of Tenants Financial Information: Average Base Rents. Overage Rents (5 Tenants) 10 years 400,000 square feet 160,000 square feet 40 CAM Expenses Recoverable from Tenants Average Lease Term Vacancy Operating Expenses: Maintenance/Repair Management/administration/Leasing Expenses Property Taxes Insurance Other Other Information: Recurring CAPEX/Improve Allowance Required: $20 per square feet 50,000 square feet @ $8.00 per square feet 50,000 square feet @ $5.00 per square feet 3.5 years Equal to 10% of total rental revenue $1,200,000 $230,000 $1,715,000 $105,000 $160,000 a. From the above data, develop a pro forma statement for a base year showing net operating Income (NO) for Summer Place