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Lucy Candies Inc. (LCI) is preparing pro forma financial statements. Selected information from the pro forma income statement is provided below: Sales $25,000 Cost of
Lucy Candies Inc. (LCI) is preparing pro forma financial statements. Selected information from the pro forma income statement is provided below: Sales $25,000 Cost of goods sold (COGS) $18,000 Other costs $ 4,000 The company has assumed that accounts receivable will be collected in 39 days, inventory represents 60 days of sales, and the accounts payable payment period will be 45 days. What are the balances in the pro forma balance sheet for accounts receivable, inventory, and accounts payable
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