You have been asked to develop a pro forma statement of cash flow for West Office Plaza. The information given to you is listed below. Property Information: WEST OFFICE PLAZA Rentable Area Age Number of Stories Number of Tenants 332,000 square feet 8 years 15 40 Financial Information: Base Rent Average $ 20 per square feet Other Income/Parking/Storage $ 3.10 per square feet Expenses Recoverable from Tenants $ 4.10 per square feet Current Vacancy 54 Expenses: Management/Administration/Security/Ownership $ 698, 200 Property Taxes $ 683, 800 Insurance $ 433,200 General Operations/Leasing Expense/Marketing $ 675,000 Utilities $ 1,167, 100 Janitorial/Cleaning $ 497,000 Business Taxes $ 118,000 Other: Recurring CAPEX/Improvement Allowance $ 708,000 Required: a. Develop a pro forma statement of cash flow for a bose year showing net operating income (NOI) for West Office Plaza Answer is complete but not entirely correct. WEST OFFICE PLAZA Revenue $ 6,640,000 1,029,200 1,361,200 (451,520) >> $ 8,578,880 Add: Other income (parking) Recoverable expenses Less: Vacancy Effective gross income Less: Operating expenses Management/Administration Property taxes Insurance Operating/Leasing Utilities Janitorial/Cleaning Business taxes 698,200 683,000 433,200 675,000 1,167,100 497,000 118,000 Total operating expenses Cap expenses/Improvement allowance Net operating income 4,271,500 708,000 4,979,500 3,599,380 $