Adjust the Cash Balance We obtain the following 2018 forecasts of selected financial statement line items for Journey Company. $ millions 2017 Actual 2018 Est. Net Sales $747.442 S779,327 Marketable securities 67,096 62,096 Long-term debi 346,558 308,437 Treasury stock (deducted from equity) 51,174 51,174 Cash generated by operations 57,918 Cash used for investing (15,130) Cash used for financing (54,438) Total net change in cash (11,650) Cash at beginning of period 51,141 Cash at end of period $39.491 a. Does forecasted cash deviate from the normal level for this company? Calculate the company's normal cash level as a percentage of sales. Round answer to one decimal place. Using the rounded answer above, compute what should be the normal cash balance for FY2018. Round answer to the nearest million. $ 53,306 x million b. Is the deviation in part a large enough to require adjustment? Explain. ONo the deviation is not large enough to require an adjustment. Yes, the deviation is large enough to require an adjustment c. Identify three ways to adjust the forecasted cash balance. Which option would least likely be used to adjust the cash balance? Osell marketable securities Decrease capital expenditures Olncrease long-term debt Osell treasury stock d. Complete the following statement of cash flows assuming long-term debt is used to adjust the forecasted cash balance. Use negative signs with answers, when appropriate. Cash generated by operations 57,918 Cash used for investing (15,130) Cash used for financing (40,623) X Total change in cash 2,165 x Cash al beginning of period 51,141 Cash at end of period 53,306 x $ e. Complete the following statement of cash flows assuming marketable securities are used to adjust the forecasted cash balance. Use negative signs with answers, when appropriate. Cash generated by operations 71,733 x Cash used for investing 15,130 x Cash used for financing (54,438) Total change in cash 2,165 x Cash at beginning of period 51,141 Cash at end of period $ 53,306 x