5. You have been asked to develop a pro forma statement of cash flow for a manufacturing/distribution facility now inhabited by new tenant, Glassy Knoll Ceramics, a maker of specialty household ceramic products. In addition to recoverable operating expenses, Glassy Knoll agrees to be billed for pass-throughs including insurance and property taxes, which will then be paid to the owner. The information given to you is listed below: Property Information: GLASSY KNOLL CERAMICS FACILITY Age of Improvement Rentable Space Single Tenant Financial Information: Rent Recoverable Expenses from Tenant Operating Expenses Property Taxes Insurance Other Cash Outlays: Allowances for Recurring CAPEX/Improve Allowance 15 years old 90,000 sq. ft. 10-year lease term, net, net $6.00 per sq. ft (5-year term), flat $1.00 per sq. ft., fixed $300,000 $20,000 $5,000 $40,000 a. Develop a pro forma statement for the Glassy Knoll Ceramics property for a base year showing net operating income. (5 pts)