Pto forma balance sheet Peabody \& Peabody has 2022 sales of $10.8 millon it wishes to analyze expecled performance and financing needs for 2024 - 2 years ahead Given the following information, respond to parts a. and b. (2) Marketable securfies and other current liabilities will remain unchanged (3) Peabody desires a minimum cash bolance of $481,000 (4) A new machine costing $650,000 will be acquired in 2023, and equipment costing 5853,000 will be purchased in 2024. Total depreciation in 2023 is forecast as $209 (r00 and in 2024$395,000 of depreciation will be taken (5) Aconuals will rise to $497,000 by the end of 2024 (b) There wal be no sale or retirement of long term debt. (7) No sale or repurchase of commen tock is expected (3) The dividend payout of 50% of net protits will continue. (9) The sales forecast predicts $119 mation in 2023 and 5117 mallion in 2024. (10) The December 31,2022 balance sheet ts bete a. Prepare a proforma balance theet dated December 31, 2024 b. Discuss the financing changes suggested by the statement prepared in part (a). Peabody \& Peabody Balance Sheet December 31,2022 Pro Forma Balance Sheet Peabody \& Peabody December 31, 2024 Assets Current assets Cash Marketable securities $ Accounts receivable $ Inventories Total current assets $ Net fixed assets $ Total assets $