a. Use the judgmental approach to prepare a pro forma balance sheet for next year. b. How much, if any, additional financing will Leonard Industries require? Discuss. c. Could Leonard Industries adjust its planned dividend to avoid the situation described in part b? Explain how. Pro forma balance sheet-Basic Leonard Industries wishes to prepare a pro forma balance sheet for next year. The firm expects sales to total \\( \\$ 3,000,000 \\). The following information has been gather (1) A minimum cash balance of \\( \\$ 50,000 \\) is desired. (2) Marketable securities will remain unchanged. (3) Accounts receivable represent \10.0 of sales. (4) Inventories represent \12.0 of sales. (5) Leonard will acquire a new machine costing \\( \\$ 90,000 \\). 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 will remain unchanged. (8) The firm's net profit margin is \4.0, and it expects to pay out \\( \\$ 70,000 \\) in cash dividends next year. (9) The most recent balance sheet follows