ro forma balance sheet-Basic Leonard Industries wishes to prepare a pro forma balance sheet for December 31,2020 . The firm expects 2020 salies to tolai $3,000.000. The following mormation has been gathered (1) A minimum cash balance of $50,000 is desired. (2) Markntable securities are expected to remain unchanged. (3) Accounts receivable represent 10.0% of sales. (4) Inventorles represent 12.0% of sales. (5) A new machine costing $90,000 will be acquited during 2020. Total depreciation for the year will be $32,000. (6) Accounts payable represent 14.0% of sales. (7) Accruals, other current Labilites, long-term debt, and cormon stock are expected to remain unchanged. (8) The firm's net proft margin is 4.0%, and lif expects to pary out $70,000 in cash dividends during 2020 . (9) The December 31,2019, balance sheet follows a. Use the judgmental approach to ptepare a pro forma balance sheet dated Docember 31, 2020, for Leonsd Industries. b. How much, if any, additicnal finanding witl Locnard industios requie in 20207 Discuss. c. Could Leonard industries adjust its planned 2020 dividend to avold the thasca descroed in part b? Explain how. a. Uso the jusgmental approach to prepare a pro forma baiance sheet dated December 31, 2020, for Leonard industries. Complote the assets part of the pro forma balance sheet for Leonard industries for December 31,2020 belown (Round to the nearest dolac) Data table (Click on the icon here [ in order to copy the contents of the data table below into a spreadsheet.)