Pro forma balance sheet Peabody & Peabody has 2015 sales of $10.7 million. It wishes to analyze expected performance and financing needs for 2017-2 years ahead. Given the following information, respond to parts a. and b. (1) The percents of sales for items tat vary directly with sales are as follows: Accounts receivable: 1 1 .696. Inventory: 18.1%; Accounts payable. 13.7%; Net profit margin. 3.2%. (2) Marketable securities and other current liabilities are expected to remain unchanged (3) A minimum cash balance of S481,000 is desired. (4) A new machine costing $648,000 will be acquired in 2016, and equipment costing S850,000 will be purchased in 2017. Total depreciation in 2016 is forecast as $285,000, and in 2017 $395,000 of depreciation will be taken (5) Accruals are expected to rise to S500,000 by the end of 2017 (6) No sale or retirement of long-term debt is expected (7) No sale or repurchase of common stock is expected. (8) The dividend payout of 50% of net profits is expected to continue (9) Sales are expected to be S11.9 million in 2016 and S11.8 million in 2017 (10) The December 31.2015. balance sheet is here E! a. Prepare a pro forma balance sheet dated December 31, 2017 Complete the assets part of the pro forma balance sheet for Peabody & Peabody for December 31, 2017 below: (Round to the nearest dollar.) Pro Forma Balance Sheet Peabody & Peabody December 31, 2017 Data Table Assets Click on the icon located on the top-right coner of the data table below in order to copy its contents into a spreadsheet.) Leonard Industries Balance Sheet December 31, 2015 S398,000 Accounts payable Current assets Cash Marketable securities Accounts receivable Assets Cash Marketable securities Accounts receivable Liabilities and Stockholders' Equit S1,402,000 396,000 30,500 S1,878,500 1,998,500 3,719,000 204,000 Accruals 1,202,00D Other current liabilities 1.797.000 Total current liabilities Total current assets Net fixed assets Total assets Total current assets S3,601,000 Long-term debt Net fixed assets 3.995.000 Common stock Total liabilities and Total assets S7.596.000 stockholders' equity $7,596,000 Print Done