Pro forma balance sheet. Next year, California Cement Company will increase its plant, property, and equipment by $6,014,000 with a plant expansion. The inventories will grow by 82%, accounts receivable will grow by 69%, and marketable securities will be reduced by 60% 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, for California Cement 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? Complete the pro-forma balance sheet for 2014 below. (Round to the nearest dollar.) California Cement Company Balance Sheet for the Year Ending December 31, 2013 LIABILITIES ASSETS Current assets 67 Cash Current liabilities 1,436,000 Accounts payable 1,147,000 Other current liabilities $ 6,137,000 $ $ S 1,106,000 Marketable securities Accounts receivable Inventories $ 3,777,000 Total current liabilities S 7,243,000 S California Cement Company Pro Forma Balance Sheet for the Year Ending December 31, 2014 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 $ $ $ $ $ 2,454,000 1,564,000 $ $ $ $ 4,018,000 Total current assets Long-term assets Plant, property, and equipment Goodwill Intangible assets Total long-term assets $ $ 11,261,000 $ $ 2,614,000 Long-term liabilities 8,974,000 Long-term debt Other long-term liabilities 6,741,000 Total long-term liabilities 4,013,000 Total liabilities 1,590,000 OWNERS' EQUITY 12,344,000 Common stock Retained earnings Total owners' equity TOTAL LIABILITIES AND 21,318,000 OWNERS' EQUITY $ $ $ 2,495,000 $ S 7,562,000 S 10,057,000 TOTAL ASSETS S $ 21,318,000