Based on the following information prepare the Pro Forma Statement of Financial Position as at 31 December 2024. (Ignore the investment opportunity for 2025.) Please include detailed steps and explain what it means to ignore the investment opportunity. STELLIES ELECTRONICS LTD: PROJECTIONS FOR 2024 AND 2025 After posting excellent sales and net profit in the previous year Stellies Electronics Ltd set its sights on growth and innovation as it celebrated its 10th anniversary in 2023. It has continually strived to become the leader in the electronics industry. The company is also committed to being a good corporate citizen, as it strives to fulfil both its economic and social responsibilities.   The following reflects the financial position of the company on 31 December 2023: The carrying value of the fixed assets was R30 000 000 whilst the current assets comprised inventory of R9 400 000, accounts receivable of R8 000 000 and cash of R1 600 000. The equity consisted of ordinary share capital, R17 000 000, and retained earnings of R6 400 000. An amount of R22 000 000 was owed to Ambi Bank for a long-term loan. Trade creditors were owed R3 600 000.   The following projections and proposals were made by Stellies Electronics Ltd for 2024: The sales are expected to increase from R30 000 000 in 2023 to R40 000 000 in 2024. All the sales are on credit. Accounts receivable is based on a collection period of 36.5 days. Accounts payable must be calculated using the percentage-of-sales method. The gross margin and net profit margin ratios are expected to be 25% and 10% respectively for 2024. All purchases of inventory are on credit. Purchases for 2024 are projected at R25 000 000. The company expects to show a net increase in cash of R500 000 during 2024. R24 000 000 will be spent on additional land and buildings during the fourth quarter of 2024. The total depreciation for 2024 is forecasted at R4 000 000. 1 000 000 ordinary shares are expected to be sold at R4 each during January 2024. Dividends of R3 000 000 are expected to be recommended by the directors at the end of 2024. These dividends will be paid during 2025. R5 500 000 will be paid to Ambi Bank during 2024. This amount includes R2 000 000 for interest on loan. The amount of external funding (non-current debt) required must be calculated.   Stellies Electronics Ltd has identified a new machine that it is considering for purchase at the start of 2025. The cost the machine is R4 000 000. The machine is expected to have a useful life of five years. No scrap value is anticipated. The annual profits that are expected to be generated from the machine are as follows: Year 1 R600 000; Year 2 R620 000; Year 3 R700 000; Year 4 R660 000; Year 5 R560 000. The cost of capital is 15%. Depreciation is estimated at R800 000 per year.