Pro forma balance sheet- Basic Leonard Industries wishes to prepare a pro forma balance sheet for December 31, 2016. The frm expects 2016 sales to total $3,000,000. The following information has been gathered. (1) A minimum cash balance of $50,000 is desired. (2) Marketable securities are expected to remain unchanged (3) Accounts receivable represent 9.9% of sales (4) Invertones represent 12.2%of sales. (5) A new machine costing $89,500 will be acquired during 2016. Total depreciation for the year will be $31,900 (6) Accounts payable represent 14.4% of sales. (7) Accruals, other current liabilitios, long-torm dobt, and common stock are expected to remain unchanged (8) The frm's net profit margin is 3 8%, and expects to pay out S70.300 in cash dividends during 2016. (9) The December 31, 2015, balance sheet follows a. Use the udamental aporoach to arenare a pro forma balance sheat dated December 31. 2016 for Leonard Industries a. Use the judgmental approach to propare a pro forma balance sheot dated December 31, 2016, for Leonard Industries Complete the assets part of the pro forma balance sheet for Leonard Industries for December 31, 2016 below: (Round to the nearest dollar.) Pro Forma Balance Sheet Leonard Industries December 31, 2016 Assets Current assets Cash Marketable securities Accounts receivable nventories Total current assebs Net fixed assets Total assets