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YUSLU. Pom-POSSIDIC Pro forma balance sheet. Next year, California Cement Company will increase its plant, property, and equipment by $6,069,000 with a plant expansion. The inventories will grow by 85% accounts receivable will grow by 74%, and marketable securities will be reduced by 60% to help finance the expansion Assume all other asset accounts will remain the same and the company will use long-term debt to finance the remaining expansion costs (no change in common stock or retained earnings) Using this information and the balance sheet in the popup window for Califomia Cement Company for 2013, prepare a pro forma balance sheet for 2014 How much additional debt will the company need using this pro forma balance sheet? Complete the pro-forma balance sheet for 2014 below (Round to the nearest dollar) California Cement Company Pro Forma Balance sheet for the Year Ending December 31, 2014 LIABILITIES ASSETS Current assets Cash Current liabilities 5 $ Marketable Securities Accounts payable Other current liabilities Total current liabilities $ $ $ Accounts receivable inventones $ $ $ $ Long-term liabilities Longtem deb Other long-term liabilities Total long-term liabilities Total liabilities OWNERS' EQUITY $ Total current assets Long-term assets Plant property and equipment Goodwill Intangible assets Total long-term assets $ S $ $ IA $ Common stock Retained earnings Total owners' equity TOTAL LIABILITIES AND $ $ OWNERS' EQUITY TOTAL ASSETS How much additional debt will be estimated using this pro forma balance sheet? (Round to the nearest dollar.) California Cement Company Balance Sheet for the Year Ending December 31, 2013 LIABILITIES ASSETS Current assets Cash $ $ Marketable securities $ $ 6,115,000 1.117.000 7,232,000 Accounts receivable $ $ Inventories $ Total current assets $ $ 2,407,000 1,573,000 $ Current liabilities 1.475,000 Accounts payable 1,128,000 Other current liabilities 3.785,000 Total current liabilities 2,658,000 Long-term liabilities 9,046,000 Long-term debt Other long-term liabilities 6,780,000 Total long-term liabilities 4,025,000 Total liabilities 1,578,000 OWNERS' EQUITY 12,383,000 Common stock Retained earnings ho Total owners' equity TOTAL LIABILITIES AND Long-term assets Plant property, and equipment Goodwill $ 3,980,000 11,212,000 $ $ Intangible assets Total long-term assets $ $ TA $ 2,439,000 7,778,000 10,217,000 $ $ 21,429,000 $ 21,429,000 OWNERS' EQUITY TOTAL ASSETS