Forecasted Balance SheeForecasted Balance Sheet (30 points: 5 for showing work, 25 for accuracy) CLEAN JET PRODUCTS, LLC Pro forma Balance Sheet 20X0 20X1 20X2 20X3 20X4 20X5 20X6 20X7 ASSETS Cash 30,000 40,000 30,000 Marketable Securities 20,000 25,000 30,000 Accounts Receivable 170,000 259,000 360,000 Inventory 230,000 261,000 290,000 Total Current Assets: 450,000 585,000 710,000 Plant and equipment 650,000 765,000 1,390,000 Less: accumulated depreciation (65,000) (141,500) (280,500) Net Plant and equipment 585,000 623,500 1,109,500 Total Assets 1,035,000 1,208,500 1,819,500 LIABILITIES & STOCKHOLDER'S EQUITY Accounts Payable 200,000 310,000 505,000 Accrued Expenses 20,400 30,000 35,000 Total Current Liabilities 220,400 340,000 540,000 Long-term Liabilities 325,000 363,600 703,900 Total Liabilities 545,400 703,600 1,243,900 Common Stock ($1 par) 60,000 60,000 78,000 Capital paid in excess of par 190,000 190,000 262,000 Retained Earnings 239,600 254,900 235,600 Total Stockholder's Equity 489,600 504,900 575,600 Total Liabilities & Stockholder's Equity 1,035,000 1,208,500 1,819,500 t (30 points: 5 for showing work, 25 for accuracy) CLEAN JET PRODUCTS, LLC Pro forma Balance Sheet 20X0 20X1 20X2 20X3 20X4 20X5 20X6 20X7 ASSETS Cash 30,000 40,000 30,000 Marketable Securities 20,000 25,000 30,000 Accounts Receivable 170,000 259,000 360,000 Inventory 230,000 261,000 290,000 Total Current Assets: 450,000 585,000 710,000 Plant and equipment 650,000 765,000