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Pro forma balance sheet-Basic Loonard indusvies wishes to prepare a pro forma balance sheet for Decomber 31,2020 . The firm expects 2020 sales to totar

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Pro forma balance sheet-Basic Loonard indusvies wishes to prepare a pro forma balance sheet for Decomber 31,2020 . The firm expects 2020 sales to totar $3,000,000. The following information has been gathered. (1) A minimum cash baiance of $49,600 is desired (2) Marketablo secunties are expected to remain unchanged (3) Acocunts rocelvablo reprosent 9.7% of sales. (4) Inventories represent 11.8% of sales (5) A new machine costing $89,900 will be acquired dunng 2020 . Total depreciation for the year will be $31,600 (6) Accounts payable represent 14.2% of cales (7) Accruals, other current liabilies, long-term dobt, and common stock are expected to reman unchanged (8) The firmis net profit margin is 38%, and it expects to pay out $69,500 in cash dividends during 2020 . (9) The December 31, 2019, balance sheet follows a. Use the ludamental abbrosch to crebare a vro forma balance sheet dated Docember 31,2020 . for Loonard industries Compiete the assets part of the pro forma balance sheet for Lecnard Industries for December 31,2020 below. (Round to the nearest dolar) Data table (Click on the icon located on the top-right Simer of the data table below in order to copy its contents into a spreadsheet.)

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