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Next year, National Beverage Company will increase its plant, property, and equipment by $ 4039000 with a plant expansion. The inventories will grow by 29

Next year, National Beverage Company will increase its plant, property, and equipment by $ 4039000 with a plant expansion. The inventories will grow by 29 %, accounts receivable will grow by 23 %, and marketable securities will be reduced by 52 % to help finance the expansion. Assume all other asset accounts will remain the same and the company will use long-term debt to finance the remaining expansion costs (no change in common stock or retained earnings). Using this information and the balance sheet in the popup window, LOADING..., for National Beverage Company for 2013, prepare a pro forma balance sheet for 2014. How much additional debt will the company need using this pro forma balance sheet?

National Beverage Company

Balance Sheet for the Year Ending December 31, 2013

ASSETS

LIABILITIES

Current assets

Current liabilities

Cash

$

2,490,000

Accounts payable

$

5,611,000

Marketable securities

$

1,640,000

Other current liabilities

$

3,234,000

Accounts receivable

$

2,793,000

Total current liabilities

$

8,845,000

Inventories

$

1,660,000

Long-term liabilities

Total current assets

$

8,583,000

Long-term debt

$

1,301,000

Long-term assets

Other long-term liabilities

$

2,818,000

Plant, property, and equipment

$

13,621,000

Total long-term liabilities

$

4,119,000

Goodwill

$

1,484,000

Total liabilities

$

12,964,000

Intangible assets

$

6,434,000

OWNERS' EQUITY

Total long-term assets

$

21,539,000

Common stock

$

6,851,000

Retained earnings

$

10,307,000

Total owners' equity

$

17,158,000

TOTAL LIABILITIES AND

TOTAL ASSETS

$

30,122,000

OWNERS' EQUITY

$

30,122,000

Complete the pro-forma balance sheet for 2014 below: (Round to the nearest dollar.)

National Beverage Company

Balance Sheet for the Year Ending December 31, 2013

ASSETS

LIABILITIES

Current assets

Current liabilities

Cash

$

Accounts payable

$

Marketable securities

$

Other current liabilities

$

Accounts receivable

$

Total current liabilities

$

Inventories

$

Long-term liabilities

Total current assets

$

Long-term debt

$

Long-term assets

Other long-term liabilities

$

Plant, property, and equipment

$

Total long-term liabilities

$

Goodwill

$

Total liabilities

$

Intangible assets

$

OWNERS' EQUITY

Total long-term assets

$

Common stock

$

Retained earnings

$

Total owners' equity

$

TOTAL LIABILITIES AND

TOTAL ASSETS

$

OWNERS' EQUITY

How much additional debt will be estimated using this pro forma balance sheet? (Round to the nearest dollar.)

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