7. Using the following assumptions, create new pro forma balance sheets for CABS.

   1. The company wants to hold at least $100,000 in cash.

   2. The firms long-term debt will decrease to $82,600.

   3. No new common stock will be issued.

   4. Accounts receivable take on average 80 days to collect.

   5. The company would like to hold $25,000 in inventory.

   6. The tax rate will remain the same.

   7. The note payable will remain the same.

   8. The company typically pays in 45 days and accounts payable are projected to be $123,000.