Peabody$$ & Peabody Balance Sheet December$31,2022$

Assets

Liabilities and$$ Stockholders' Equity

Cash

$ $400,000$

Accounts payable

$ $1,395,000$

Marketable securities

$200,000$

Accruals

$405,000$

Accounts receivable

$1,201,000$

Other current liabilities

$80,000$

Inventories

$1,803,000$

Total current liabilities

$ $1,880,000$

Total current assets

$ $3,604,000$

$$Long$-$term debt

$2,001,000$

Net fixed assets

$3,998,000$

Common stock

$3,721,000$

Total assets

Modifying $ $7,602,000$ with double underline

Total liabilities and

$$stockholders$\text{'}$ equity

Modifying $ $7,602,000$ with double underline

Pro forma balance sheet Peabody & Peabody has $2022$ sales of $$10\mathrm{.}2$ million. It wishes to analyze expected performance and financing needs for $2024-2$ years

following information, respond to parts a$.$ and b$.$

$(1)$ The percents of sales for items that vary directly with sales are as follows: Accounts receivable; $12\mathrm{.}1\%,$ Inventory; $18\mathrm{.}4\%$; Accounts payable, $14\mathrm{.}3\%$; Net profit marg

$(2)$ Marketable securities and other current liabilities will remain unchanged.

$(3)$ Peabody desires a minimum cash balance of $$477,000.$

$(4)$ A new machine costing $$647,000$ will be acquired in $2023,$ and equipment costing $$855,000$ will be purchased in $2024.$ Total depreciation in $2023$ is forecast as $$29$ :

depreciation will be taken.

$(5)$ Accruals will rise to $$496,000$ by the end of $2024.$

$(6)$ There will be no sale or retirement of long$-$term debt.

$(7)$ No sale or repurchase of common stock is expected.

$(8)$ The dividend payout of $50\%$ of net profits will continue.

$($a$)$ Tho caloc fnranact nradinte $$112$ millinn in $2022$ and $$111$ millinn in $204$

a$.$ Prepare a pro forma balance sheet dated December $31,2024.$

Complete the assets part of the pro forma balance sheet for Peabody & Peabody for December $31,2024$ below: $($Round to the nearest dollar.$)$

Pro Forma Balance Sheet

Peabody & Peabody

December $31,2024$