I need help putting together the pro forma balance sheet. Sales for May were $1,732,500 and will be approximately $1,845,000 for the current month of June. It is projected that the current collection period of 60 days will be reduced to 50 days for July and August, 42 days for September and October, and will meet the target of 35 days in November and December. Purchases are forecast to be $585,000 a month beginning in July. In May they were $675,000, and in June they are expected to be $607,500. The purchases are paid in 40 days. Labour expense will be paid as incurred and will be $195,000 a month. Other expenses of manufacturing will also be paid as incurred and are expected to be $375,000 a month. Cost of goods sold has regularly been 70 percent of sales. Amortization is $38,000 per month. Selling and administrative expenses are expected to be 13 per- cent of sales. The tax rate is 42 percent. There will be payments on notes of $675,000 in each of August and November. Interest of $270,000 and income taxes of $338,000 are both due in October. Dividends of $22,500 are payable in July and October. Toys For You Balance Sheet (estimated) June 30, 2016 ($ thousands) Assets Current assets: Cash $666 Accounts receivable 3,578 Inventory 8,231 Total current assets 12,475 Capital assets: Plant and equipment 11,273 Less: Accmulated amortization 4,784 6,489 Total assets $18,964 Liabilities and Shareholders Equity Current liabilities Accounts payable $945 Notes payable 3,700 Accrued liabilities 2,596 Total current liabilities 7,241 Long-term debt 4,725 Common stock 4,500 Retained earnings 2,498 Total liabilities and shareholders' equity $18,964