You have been asked to develop A PROFORMA STATEMENT OF Betts Distribution Center, an Internet-based distribution/office/warehouseOW FOR addition to recoverable operating EXPENSES, The tenant will be billed oproperty, In ineluding insurance and property tax, which will b then paid by the owne riass hrough in formation given to you is listed below Property Information BETTS DISTRIBUTION CENTER Age of Improvement Rentable Space Single Tenant 8 years 200,000 sq.ft. Financial Information Rent Recoverable Expenses from tenant Operating Expenses Property Taxes Insurance $7.00/sq. ft. (7- year term) $1.50/sq. ft. $700,000.00 $50,000 $15,000 Other Cash Outlays: Allowances for Recurring CAPEX/Improve Allowance $60,000 Develop a pro forma statement for the Betts property for a base year showing net operating income (NOI). a. b. If you plan to begin work on a future pro formas for Bets, list t least 5 major factors that you would consider