Pro forma balance sheet Peabody & Peabody has 2022 sales of $10.1 million. It wishes to analyze expected performance and financing needs for 2024 2 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; 12.4%, Inventory: 18.3%, Accounts payable, 13.7%; Net profit margin, 3.3%. (2) Marketable securities and other current liabilities will remain unchanged. (3) Peabody desires a minimum cash balance of S477,000 (4) A new machine costing $649.000 will be acquired in 2023, and equipment costing $852,000 will be purchased in 2024. Total depreciation in 2023 is forecast as $287,000, and in 2024 $385,000 of depreciation will be taken. (5) Accruals will rise to $501,000 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. (9) The sales forecast predicts $11.3 million in 2023 and $11.0 million in 2024. (10) The December 31, 2022, balance sheet is here a. Prepare a pro forma balance sheet dated December 31, 2024. h Ninio the financine channso Incoter hu the statement nranarod in martial 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.) X Pro Forma Balance Sheet Peabody & Peabody December 31, 2024 Data Table (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Assets Current assets Cash Marketable securities S S Accounts receivable S Inventories Peabody & Peabody Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity Cash $397,000 Accounts payable Marketable securities 200,000 Accruals Accounts receivable 1,200,000 Other current liabilities Inventories 1.804.000 Total current liabilities Total current assets $3,601,000 Long-term debt Net fixed assets 3,998,000 Common stock Total liabilities and Total assets S7,599,000 stockholders' equity $1,396,000 400,000 79,900 S1.875.900 1,999,100 3,724,000 S Total current assets Net fixed assets S S S7,599,000 Total assets S Print Done