Pro forma balance sheet Peabody &. Peabody has 2022 sales of $10.9 million. it wishes to analyze expected performance and financing needs for 20242 years ahead. Given the 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; 11.6\%, Inventory; 18.4\%; Accounts payable, 13.7\%; Net profit margin, 29%. (2) Marketable securities and other current liabilities will remain unchanged: (3) Peabody desites a minimum cash balance of $481,000 (4) A new machine costing $651,000 will be acquired in 2023, and equipment costing $846,000 will be purchased in 2024 , Total depreciation in 2023 is forecast as $285,000, and in 2024$386,000 of depreciation will be taken. (5) Accruals will rise to $501,000 by the end of 2024 (6) There will be no saie 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. (9) The sales forecast predicts $12.0 million in 2023 and $12.0 million in 2024 . 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 Pro forma balance sheet Peabody &. Peabody has 2022 sales of $10.9 million. it wishes to analyze expected performance and financing needs for 20242 years ahead. Given the 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; 11.6\%, Inventory; 18.4\%; Accounts payable, 13.7\%; Net profit margin, 29%. (2) Marketable securities and other current liabilities will remain unchanged: (3) Peabody desites a minimum cash balance of $481,000 (4) A new machine costing $651,000 will be acquired in 2023, and equipment costing $846,000 will be purchased in 2024 , Total depreciation in 2023 is forecast as $285,000, and in 2024$386,000 of depreciation will be taken. (5) Accruals will rise to $501,000 by the end of 2024 (6) There will be no saie 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. (9) The sales forecast predicts $12.0 million in 2023 and $12.0 million in 2024 . 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
