Pro forma balance sheet-Basic Leonard Industries wishes to prepare a pro forma balance sheet for December 31, 2016. The firm expects 2016 sales to total $3,000,000. The following information has been gathered. (1) A minimum cash balance of $50,100 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 9.8% of sales (4) Inventories represent 12.1% of sales. (5) A new machine costing S89,600 will be acquired during 2016. Total depreciaon for the year will be $31,800 (6) Accounts payable represent 14.2% of sales (7) Accruals, other current liabilities, long-term debt and common stock are expected to remain unchanged (8) The firm's net profit margin is 4.1%, and it expects to pay out $69.800 in cash dividends during 2016 (9) The December 31, 2015, balance sheet follows a. Use the judgmental approach to prepare a pro forma balance sheet dated December 31, 2016, for Leonard Industries. b. How much. if anv. additional financina will Leonard Industries reauire in 2016? a. Use the judgmental approach to prepare a pro forma balance sheet 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 Total current assets Net fixed assets Total assets