Pro forma balance sheet Peabody & Peabody has 2022 sales of $10.6 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; 11.7%, Inventory: 18.4%; Accounts payable, 14.3%; Net profit margin, 2.9%. (2) Marketable securities and other current liabilities will remain unchanged. (3) Peabody desires a minimum cash balance of $476,000. (4) A new machine costing $647,000 will be acquired in 2023, and equipment costing $848,000 will be purchased in 2024. Total depreciation in 2023 is forecast as $295,000, and in 2024 $392,000 of depreciation will be taken. (5) Accruals will rise to $500,000 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 $11.7 million in 2023 and $11.7 million in 2024. (10) The December 31, 2022. balance sheet is here a. Prepare a pro forma balance sheet dated December 31, 2024. h Nicnic the finanrinn channsc cinnacted hur the statement nonarod in nartial 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 Assets Current assets Cash $ $ $ Marketable securities Accounts receivable Inventories Total current assets (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Peabody & Peabody Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity Cash $400,000 Accounts payable Marketable securities 195,000 Accruals Accounts receivable 1,202,000 Other current liabilities Inventories 1,801,000 Total current liabilities Total current assets $3,598,000 Long-term debt Net fixed assets 4,000,000 Common stock Total liabilities and Total assets $7,598,000 stockholders' equity $ $1,403,000 401,000 79,500 $1,883,500 1.996,500 3,718,000 $ Net fixed assets $ Total assets $7,595,000 Help Me Solve This View an Example Print Print Done