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 $50,100 is desired. (2) Marketable securities will remain unchanged. (3) Accounts receivable represent 9.8% of sales. (4) Inventories represent 11.9% of sales. (5) Leonard will acquire a new machine costing $90,500. Total depreciation for the year will be $32,400. (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 3.5%, and it expects to pay out $70,300 in cash dividends next year. (9) The most recent balance sheet follows a Ilen the iuinmental annmarh tn nrenare a nm fnrma halance sheat fnr next upar 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.) Get more help . (1) A minimum cash balance of $50,100 is desired. (2) Marketable securities will remain unchanged. (3) Accounts receivable represent 9.8% of sales. (4) Inventories represent 11.9% of sales. (5) Leonard will acquire a new machine costing $90,500. Total depreciation for the year will be $32,400. (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 3.5%, and it expects to pay out $70,300 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 any, additional financing will Leonard Industries require? Discuss. c. Could Leonard Industries adjust its planned dividend to avoid the situation described in part b? Explain how. 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.) Get more help . Data table (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.)