Bluth, Inc. Balance Sheet, Dec. 31, 2015

Assets

Liabilities + Equity

Cash

$10,000

Accounts Payable

$10,500

Acct. Rec.

25,000

Notes Payable

10,000

Inventory

20,000

Accrued Expenses

11,000

Prepaid Exp.

2,000

Long-Term Debt

15,000

Total Current Assets

57,000

Common Equity

38,500

Fixed Assets

32,000

Total Liabilities and Equity

85,000

Accum. Dep.

4,000

Total Assets

85,000

Bluths net sales for 2015 were $150 million. Sales growth is expected to be 25 percent in 2016, and all current asset and current liability accounts will have the same percentage of sales as in 2015. Net fixed assets will remain the same dollar amount. There is a 100 percent dividend payout ratio. Prepare a pro forma balance sheet for 2016.