***PLEASE FOLLOW THE EXCEL SPREADSHEET LAYOUT FOR QUESTIONS 11 & 12. PLEASE SHOW WORKING NOTES WITH CALCLUTIONS IN GREEN HIGHLIGHTED AREAS - I'd like to compare my calculations. All information for questions 11 & 12 provided underneath Excel doc. Thank you!

1. Continuing problem 10 , Westmark Industrial's annual income statement and balance sheet for December 31,2017 , are shown next. Additional information about the company's accounting methods and the treasurer's expectations for the first quarter of 2018 appear in the footnotes. 2 Selling and administrative expenses consist entirely of wages. 3 Depreciation is at the rate of $30,000 per quarter. 4 Miscellaneous accruals are not expected to change in the first quarter. 5$210 due in March 2018. No payments for remainder of year. a. Use this information and the information in problem 10 to construct a pro forma income statement for the first quarter of 2018 and a pro forma balance sheet for March 31, 2018. What is your estimated external financing need for March 31 ? b. Does the March 31, 2018 estimated external financing equal your cash surplus (deficit) for this date from your cash budget in problem 10? Should it? c. Do your pro forma forecasts tell you more than your cash budget does about Westmark's financial prospects? d. What do your pro forma income statement and balance sheet tell you about Westmark's need for external financing on February 28, 2018? about Westmark's need for external financing on February 28, 2018? 2. Based on your answer to question 11 , construct a first-quarter 2018 cash flow forecast for Westmark Industrial. 1. Continuing problem 10 , Westmark Industrial's annual income statement and balance sheet for December 31,2017 , are shown next. Additional information about the company's accounting methods and the treasurer's expectations for the first quarter of 2018 appear in the footnotes. 2 Selling and administrative expenses consist entirely of wages. 3 Depreciation is at the rate of $30,000 per quarter. 4 Miscellaneous accruals are not expected to change in the first quarter. 5$210 due in March 2018. No payments for remainder of year. a. Use this information and the information in problem 10 to construct a pro forma income statement for the first quarter of 2018 and a pro forma balance sheet for March 31, 2018. What is your estimated external financing need for March 31 ? b. Does the March 31, 2018 estimated external financing equal your cash surplus (deficit) for this date from your cash budget in problem 10? Should it? c. Do your pro forma forecasts tell you more than your cash budget does about Westmark's financial prospects? d. What do your pro forma income statement and balance sheet tell you about Westmark's need for external financing on February 28, 2018? about Westmark's need for external financing on February 28, 2018? 2. Based on your answer to question 11 , construct a first-quarter 2018 cash flow forecast for Westmark Industrial