Pro forma balance sheet.Next year, California Cement Company will increase its plant, property, and equipment by

$6,065,000

with a plant expansion. The inventories will grow by

82%,

accounts receivable will grow by

69%,

and marketable securities will be reduced by

65%

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 retainedearnings). Using this information and the balance sheet

, 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
ASSETS			LIABILITIES
Current assets			Current liabilities
Cash	$	1,471,000	Accounts payable	$	6,146,000
Marketable securities	$	1,169,000	Other current liabilities	$	1,174,000
Accounts receivable	$	3,740,000	Total current liabilities	$	7,320,000
Inventories	$	2,634,000	Long-term liabilities
Total current assets	$	9,014,000	Long-term debt	$	2,417,000
Long-term assets			Other long-term liabilities	$	1,551,000
Plant, property, and equipment	$	6,788,000	Total long-term liabilities	$	3,968,000
Goodwill	$	4,054,000	Total liabilities	$	11,288,000
Intangible assets	$	1,509,000	OWNERS' EQUITY
Total long-term assets	$	12,351,000	Common stock	$	2,422,000
			Retained earnings	$	7,655,000
			Total owners' equity	$	10,077,000
			TOTAL LIABILITIES AND
TOTAL ASSETS	$	21,365,000	OWNERS' EQUITY	$	21,365,000

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

$ ?

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