Pro forma balance sheet-Basic Leonard Industries wishes to prepare a pro forma balance sheet for next year. The firm expects sales to total $3,000,000. The following information has been gathered. (1) A minimum cash balance of 550,500 is desired. (2) Marketable securities will remain unchanged. (3) Accounts receivable represent 9.8% of sales. (4) Inventories reprosent 11.7% of sales. (5) Leonard will acquire a new machine costing $90,200. Total depreciation for the year will be $31,500. (6) Accounts payable represent 14.2% of sales. (7) Accruals, other current liabilities, long-term debt, and common stock will remain unchanged. (8) The firm's net profit margin is 4.3%, and it expects to pay out $69,700 in cash dividends next year. (9) The most recent balance sheet follows: a. Use the judgmental approach to prepare a pro forma balance sheet for next year. b. How much if anv. additional financing will Leonard Industries require ? Discuss. a. Use the judgmental approach to prepare a pro forma balance sheet for Leonard Industries. Complete the assets part of the pro forma balance sheet for Leonard Industries below. (Round to the nearest dollar.) ) Pro Forma Balance Sheet Leonard Industries - X Data Table Assets (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Current assets Cash $ Marketable securities Accounts receivable Inventories Assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Leonard Industries Balance Sheet Liabilities and Stockholders' Equity $44,500 Accounts payable 15,500 Accruals 254,600 Other current liabilities 339.700 Total current liabilities $654,300 Long-term debet 600,400 Common stock Retained earrings $1,254,700 Total liabilities and stockholders' equity 5395,000 59,800 30,100 5484,900 349,300 200,200 220,300 $1,254,700 Total current assets $ Net fixed assets Total assets $ Total assets Help Me Solve This View an Example Print Print Done