Problems Nickels company wishes to analyze expected performance and financing needs for 2018. Below is Nickel's balance +-heet as of December 31, 2017: Assets Liabilities & Stockholders' Equity 155,000 Accounts Payable 450.000 Marketable Securities $ 20.000 Accruals 115,000 Accounts Receivable $ 310,000 Other Current Liabilities 85,000 Inventories $ 395,000 Total Current Liabilities $ 650,000 Total Current Assets $ 930,000 Long-term Debt 405,000 Net Fixed Assets $ 655,000 Common Stock 255,000 Total Assets $ 1,585,000 Retained Earnings $ 275,000 Total Liabilities & Stockholders' Equity $ 1.585.000 Assumptions: 1) The firm expects 2018 sales to total $4,000,000 2) A new machine costing $85,000 and new equipment costing $70,000 will be acquired during 2018. Total depreciation for the year on the new machine will be $28,000; while total depreciation for the year on the new equipment will be $12,000. 3) Marketable securities will increase by $10,000; while other current liabilities will remain unchanged. 4) A minimum cash balance reported from the annual cash budget of $170,000 is desired. 5) No sale or repurchase of common stock is expected. 6) The percent's of sales for items that vary directly with sales are as follows: Accounts Receivable (12%), Inventory (14%), Accounts Payable (16%) and Net Profit Margin (5%). 7) Accruals are expected to decrease by $18,000 by the end of 2018. 8) No sale or retirement of long-term debt is expected. 9) The company expects to pay $66,000 in cash dividends during 2018 Required: Prepare a Pro Forma Balance Sheet dated December 31, 2018 Assets Liabilities & Stockholders' Equity Cash Accounts Payable Marketable Securities Accruals Accounts Receivable Other Current Liabilities Inventories Total Current Liabilities Total Current Assets Long-term Debt Net Foxed Assets Total Liabilities Total Assets Common Stock Retained Earnings Total Liabilities & Stockholders' Equity External Financing Required Total Liabilities & Stockholders' Equity Required: What does this company's pro-forma balance sheet reveal for December 31, 2018