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This question: 1 points possible Pro forma balance sheet. Next year, California Cement Company will increase its plant, property, and equipment by $6,097,000 with a plant expansion. The inventories will grow by 81%, accounts receivable will grow by 70%, and marketable securities will be reduced by 56% to help finance the expansion. Assume all other asset accounts will remain the same and the company will use long-term debt to finance the remaining expansion costs (no change in common stock or retained earnings). Using this information and the balance sheet in the popup window, for California Cement Company for 2013, prepare a pro forma balance sheet for 2014 How much additional debt will the company need using this pre forma balance sheet? California Cement Company Pro Forma Balance Sheet for the Year Ending December 31, 2014 LIABILITIES ASSETS Current assets Current liabilities Cash $ $ Accounts payable Other current liabilities Marketable securities $ $ Accounts receivable $ Total current liabilities $ Inventories $ Total current assets $ $ Long-term liabilities Long-term debt Other long-term liabilities Total long-term liabilities Total liabilities Long-term assets Plant, property, and equipment Goodwill $ $ $ $ S $ $ s $ Intangible assets S OWNERS' EQUITY $ Total long-term assets $ $ Common stock Retained earnings $ $ Total owners' equity TOTAL LIABILITIES AND OWNERS' EQUITY TOTAL ASSETS $ ASSETS Current assets Cash $ $ $ A Marketable securities Accounts receivable Inventories 6,114,000 1,191,000 7,305,000 SA $ LIABILITIES Current liabilities 1,408,000 Accounts payable 1.159,000 Other current liabilities 3,712,000 Total current liabilities 2,628,000 Long-term liabilities 8,907,000 Longterm debt Other long-term liabilities 6.700,000 Total long-term liabilities 4,088,000 Total liabilities $ $ Total current assets $ 2,440,000 1.583,000 Long-term assets Plant, property, and equipment Goodwill $ $ $ 4,023,000 11,328,000 $ $ $ GA 1,552,000 OWNERS' EQUITY Intangible assets Total long-term assets CA 12,340,000|Common stock Retained earnings 2,413,000 7,506,000 9,919,000 Total owners' equity TOTAL LIABILITIES AND 21,247,000 OWNERS' EQUITY TOTAL ASSETS 21,247,000