Pro forma balance sheet-Basic Leonard Industries wishes to prepare a pro forma balance sheet for December 31, 2020. The firm expects 2020 sales to total $3,000,000. The following information has been gathered. (1) A minimum cash balance of $49,700 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 10.2% of sales. (4) Inventories represent 12.3% of sales. (5) A new machine costing $90,400 will be acquired during 2020. Total depreciation for the year will be $31,700. (6) Accounts payable represent 14.5% of sales. (7) Accruals, other current liabilities, long-term debt, and common stock are expected to remain unchanged. (8) The firm's net profit margin is 4.1%, and it expects to pay out $69,700 in cash dividends during 2020. (9) The December 31, 2019, balance sheet follows a. Use the iudamental approach to prepare a pro forma balance sheet dated December 31, 2020. for Leonard Industries. CIBER a. Use the judgmental approach to prepare a pro forma balance sheet dated December 31, 2020, for Leonard Industries. Complete the assets part of the pro forma balance sheet for Leonard Industries for December 31, 2020 below: (Round to the nearest dollar.) Pro Forma Balance Sheet Leonard Industries December 31, 2020 Assets Current assets Cash $ Marketable securities Accounts receivable Inventories Total current assets $ Net fixed assets Total assets $ 2 X Data table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Leonard Industries Balance Sheet December 31, 2019 Liabilities and Stockholders' Equity $44,800 Accounts payable 14,500 Accruals 255,400 Other current liabilities 339,600 Total current liabilities $654,300 Long-term debt 599,600 Common stock Retained earnings $1,253,900 Total liabilities and stockholders' equity $394,500 59,700 29,800 $484,000 350,200 200,200 219,500 $1,253,900 Total assets