Besides having an old Ikea Futon, I purchased the following:
5 yards heavy duty canvas $25.00
4 screw mount blocks (for Legs) $20.00
4 Couch legs $16.00
6 Steel 4 inch L-Brackets $6.00
1 package of 1.5 inch nails $2.00
Fabric Paint $5.00
And for a grand total of $74.00 I have a new sofa!
(serrated) Bread knife
Marker / Pencil
Hand Sewing Needles / Thread
To begin--disassemble and say your final goodbyes to your Ikea Futon!
Step 1: IKEA Futon Hack
I decided on using the 4 panel piece for my sofa seat, the 3 panel piece for the sofa back. This left the 5 panel piece to be cut up into the sofa arm and the framing for the sofa seat.
I also carefully sawed off the rounded attachement edges, to make sure the pieces were squared off and fit together properly.