proforma income statement

The cash budget for Parker Process Meats, Inc. for the fourth quarter of 2004 is given below:

Parker Process Meats, Inc.

Cash Budget for the Three Months Ending December 31, 2004

Cash receipts                                       Oct.           Nov.          Dec.

Total collections                           $31,050          $4,050     $49,950

Cash disbursements:

Purchases                                       44,550          48,600       52,650

Wages and salaries                           7,425            7,425         7,425

Other expenses                                 2,025            1,350            675

Taxes                                  17,415

Total disbursements                     $54,000        $57,375     $78,165

The expected sales for the period are as follows:

Oct.: $86,400 Nov.: $91,800 Dec.: $83,700

The total depreciation expense for the period will be $8,775. An interest payment on outstanding debt of $15,000 will be made in December. Using the information given, construct a pro forma income statement for the final quarter of 2004 for Parker.