What is the external funds required? Please show work.

m cash balance of $50,400 is desired. le securities are expected to remain unchanged. receivable represent 9.7% of sales. es represent 11.8% of sales. Data table (Click on the icon here e in order to copy the contents of the data table below into a spreadsheet.) Assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Leonard Industries Balance Sheet December 31, 2019 Liabilities and Stockholders' Equity $45,100 Accounts payable 14,600 Accruals 255,200 Other current liabilities 339,700 Total current liabilities $654,600 Long-term debt 599,600 Common stock Retained earnings $1,254,200 Total liabilities and stockholders' equity $395,300 59,500 29,500 $484,300 348,900 200,500 220,500 $1,254,200 Total assets Print Done me solve this View an example Get more help Next question to sales to total $3,000,000. The following information has been gathered Pro forma balance sheet-Basic Leonard Industries wishes to prepare a pro forma balance sheet for December 31, 2020. (1) A minimum cash balance of $50,400 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 9.7% of sales (4) Inventories represent 11.8% of sales. (5) A new machine costing $90,300 will be acquired during 2020. Total depreciation for the year will be $31.700. (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 4.2%, and it expects to pay out $69,700 in cash dividends during 2020, (9) The December 31, 2019, balance sheet follows a. Use the judgmental approach to prepare a pro forma balance sheet dated December 31, 2020, for Leonard Industries. b. How much. If anv, additional financing will Leonard Industries require in 2020? Discuss Leonard Industries December 31, 2020 Liabilities and stockholders' equity Current liabilities Accounts payable Accruals Other current liabilities Total current liabilities 42600 59500 29500 s 131600 348900 $ 480500 Long-term debt Total liabilities Common stock Retained eamings Total stockholders' equity External funds required 200500 276800 477300 $ Total liabilities and stockholders' equity 1368200 S