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a. Use the judgmental approach to do prepare pro forma balance sheet dated December 31, 2020, for Leonard Industries. b. How much, if any, additional

a. Use the judgmental approach to do prepare pro forma balance sheet dated December 31, 2020, for Leonard Industries.

b. How much, if any, additional financing will Leonard Industries require in 2020? Discuss.

c. Could Leonard Industries adjust its planned 2020 dividend to avoid the situation described in part b? Explain how.

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