Proforma balance sheet-Basie Leonard industries wishes to prepare a proforma balance sheet for December 31, 2020. The firm expects 2020 sales to total 53.000.000. The following formation has been gathered. (1) Animum cash $0.160 is deemed Marble soutien are recomanaged Aunts receivable represent of A new machine coming $80.000 wibo acquired during 2000. Totul depreciation to the your wit be $32.100 () Anunt percent 1415 of les (7) Another cunt belong-term debt and common stock are expecte en charged These profag 3. dit expect to pay out $70.200 in canh ducende during 2000 The December 31, 2018, balancere follow 1. Use the domeniul approach to prepare a proforma balance shou dated December 31, 2020, ter Land Industries How much if aditional francia wil Leonard Industries more in 20207 Discuss Current assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets GA $ $ Liabilities and stockholders' equity Current liabilities Accounts payable Accruals Other current liabilities Total current liabilities Long-term debt Total liabilities Common stock $ $ Retained earnings Total stockholders' equity External funds required Total liabilities and stockholders' equity $ b. How much, if any, additional financing will Leonard Industries require in 2020? Discuss. (Select all the answers that apply.) A. Leonard Industries' retained earnings are enough to cover all of the company's desired level of certain accounts. B. If financing cannot be obtained, one or more of the constraints must be changed. C. Based on the forecast and desired level of certain accounts, the financial manager should arrange for credit of S45,000. D. Based on the forecast and desired level of certain accounts, the financial manager should arrange for credit of $50,000. c. Could Leonard Industries adjust its planned 20202016 dividend to avoid the situation described in part b? Explain how. (Select all the answers that apply.) If Leonard Industries reduced its 2020 dividend to $25,200 or less, the firm would not need any additional financing. B. By reducing the dividend, more cash is retained by the firm to cover the growth in other asset accounts. C. If Leonard Industries reduced its 2020 dividend to $30,200 or less, the firm would not need any additional financing. D. Leonard Industries' retained earnings are enough to cover all of the company's desired level of certain accounts including dividends. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Leonard Industries Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity Cash $44,500 Accounts payable $394,900 Marketable securities 14,700 Accruals 59,800 Accounts receivable 255,200 Other current liabilities 30,400 Inventories 339,600 Total current liabilities $485,100 Total current assets $654,000 Long-term debt 349,000 Net fixed assets 600,300 Common stock 200,100 Retained earnings 220,100 Total assets $1,254,300 Total liabilities and stockholders' equity $1,254,300 Proforma balance sheet-Basie Leonard industries wishes to prepare a proforma balance sheet for December 31, 2020. The firm expects 2020 sales to total 53.000.000. The following formation has been gathered. (1) Animum cash $0.160 is deemed Marble soutien are recomanaged Aunts receivable represent of A new machine coming $80.000 wibo acquired during 2000. Totul depreciation to the your wit be $32.100 () Anunt percent 1415 of les (7) Another cunt belong-term debt and common stock are expecte en charged These profag 3. dit expect to pay out $70.200 in canh ducende during 2000 The December 31, 2018, balancere follow 1. Use the domeniul approach to prepare a proforma balance shou dated December 31, 2020, ter Land Industries How much if aditional francia wil Leonard Industries more in 20207 Discuss Current assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets GA $ $ Liabilities and stockholders' equity Current liabilities Accounts payable Accruals Other current liabilities Total current liabilities Long-term debt Total liabilities Common stock $ $ Retained earnings Total stockholders' equity External funds required Total liabilities and stockholders' equity $ b. How much, if any, additional financing will Leonard Industries require in 2020? Discuss. (Select all the answers that apply.) A. Leonard Industries' retained earnings are enough to cover all of the company's desired level of certain accounts. B. If financing cannot be obtained, one or more of the constraints must be changed. C. Based on the forecast and desired level of certain accounts, the financial manager should arrange for credit of S45,000. D. Based on the forecast and desired level of certain accounts, the financial manager should arrange for credit of $50,000. c. Could Leonard Industries adjust its planned 20202016 dividend to avoid the situation described in part b? Explain how. (Select all the answers that apply.) If Leonard Industries reduced its 2020 dividend to $25,200 or less, the firm would not need any additional financing. B. By reducing the dividend, more cash is retained by the firm to cover the growth in other asset accounts. C. If Leonard Industries reduced its 2020 dividend to $30,200 or less, the firm would not need any additional financing. D. Leonard Industries' retained earnings are enough to cover all of the company's desired level of certain accounts including dividends. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Leonard Industries Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity Cash $44,500 Accounts payable $394,900 Marketable securities 14,700 Accruals 59,800 Accounts receivable 255,200 Other current liabilities 30,400 Inventories 339,600 Total current liabilities $485,100 Total current assets $654,000 Long-term debt 349,000 Net fixed assets 600,300 Common stock 200,100 Retained earnings 220,100 Total assets $1,254,300 Total liabilities and stockholders' equity $1,254,300