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(1) A minimum cash balance of $50,000 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 10.0% of sales. (4)
(1) A minimum cash balance of $50,000 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 10.0% of sales. (4) Inventories represent 12.0% of sales. (5) A new machine costing $90,000 will be acquired during 2020. Total depreciation for the year will be $32,000. (6) Accounts payable represent 14.0% 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 4.0%, and it expects to pay out $70,000 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. h How murh if any additional financino will I ennard Inductriea rerulire in 2020 ? Miarca a. Use the judgmental approach to prepare a pro forma balance sheet dated December 31, 2020, for Leonard Industries. Complete the assets part of the pro forma balance sheet for Leonard Industries for December 31,2020 below: (Round to the nearest dollar.) (1) A minimum cash balance of $50,000 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 10.0% of sales. (4) Inventories represent 12.0% of sales. (5) A new machine costing $90,000 will be acquired during 2020. Total depreciation for the year will be $32,000. (6) Accounts payable represent 14.0% 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 4.0%, and it expects to pay out $70,000 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. h How murh if any additional financino will I ennard Inductriea rerulire in 2020 ? Miarca a. Use the judgmental approach to prepare a pro forma balance sheet dated December 31, 2020, for Leonard Industries. Complete the assets part of the pro forma balance sheet for Leonard Industries for December 31,2020 below: (Round to the nearest dollar.)
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