Virginia Jackson Is Opening Jackson Realty on January 2 CHANGE NEEDS TO BE MADE TO TABLE
Center the Month

Virginia Jackson is opening Jackson Realty on January 2.For several weeks she has been busy putting together an operating budget for the first quarter of operation for her new business.Virginia has estimated her selling and administrative (S&A)costs as follows: $$\begin{array} { | l | r | r | r | r | } \hline & \text { January } & \text { February } & { \text { March } } \\\hline \text { Depreciation } & \$ 1,000 & \$ 1,000 & \$ 1,000 \\\hline \text { Marketing expenses } & 2,000 & 1,400 & 1,000 \\\hline \text { Misc ellaneous costs } & 500 & 400 & 400 \\\hline \text { Rent expense } & 5,000 & 5,000 & 5,000 \\\hline \text { Salary expense } & 4,000 & 8,000 & 8,000 \\\hline \text { Sales commissions } & 1,000 & 1,200 & 1,400 \\\hline \text { Utilities expense } & 1,000 & 800 & 1,000 \\\hline \text { Total S\&A costs before interest } & \$ 14,500 & \$ 17,800 & \$ 17,800 \\\hline\end{array}$$ CHANGE NEEDS TO BE MADE TO TABLE
Center the month names in the heading row
All selling and administrative costs are paid when incurred except utilities,marketing expenses,and sales commissions.These items are paid in the month following the month incurred.
Required:
1)Prepare a schedule of cash payments for selling and administrative expenses for January through March.
2)What liabilities,in what amounts,would be reported on the pro forma balance sheet as of March 31?