A financial manager at General al Mines gathered the financiar data essential to prepare a proforma balance sheet for cash and profit planning purposes for the coming year ended December 11, 2015 Using the percent of sales method and the following financial data, prepare the proforma balance sheet in order to answer the following uple choice questions ) The first of $1,000,000 0 The firm mare a cash balance of $25,000 Accorre 15 percent of sale (d) Intary pre of A mining equipment coming 130.000 will be puchon in 2010 Totalprint 2010 will be 175,00 m Accounts payable represente 10 percent of a There will be rechange in roles payarul and common stock 0 The plante a long to not of $300,000 0) Dividends of 15,000 will be paid in 2015 The firm predictesa percentat profit margin Balance Sheet General Talc Mines December 31, 2014 Art ARE Accounts receive Inventones Total current Nettbord met Totalsts 5000 120,000 300.000 1445.000 150.000 1 345,000 $ 60.000 59.000 50.000 $400.000 Equity crits payable Notes payable Accrual Total current liabilities Long-term debit Total libe Stockholders equity Common stock Retained earning Total Rocktholdere equity Total lists and stockholder equat 500 000 100.000 135.000 215.000 1945,000 (See Table 4.5) if General Talc Mines cannot raise the external financing required through traditional credit channels, the firm may increase sales factor accounts receivable purchase additional fixed assets to raise productivity Sell common stock