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A company is preparing a proforma balance sheet. The company forecast $10 million in projected sales. The projected cash needed 6% of sales, accounts receivalbe

A company is preparing a proforma balance sheet. The company forecast $10 million in projected sales. The projected cash needed 6% of sales, accounts receivalbe are 19% of sales, and PP&E are 50% of sales. Accounts payable has been 12% of sales, historically shareholders equity is 1.5 million. Pro forma income is $3.6 million. The company has no long term debt. What is the total discretionary amount for the pro forma balance sheet? (show formula please)

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