a Construct a pro forma income statement for the last calendar-quarter of 2011 and a pro forma balance sheet as of December 31, 2011. What is your estimated external financing needed for December 31? Noble Selected Information and Financial Statements Sales (20 percent for cash, the rest on 30-day credit terms): 2011 Actual 2011 Projected July August September October 76,000 88,000 266,000 125,000 November 51,000 December 53,000 Purchases (all on 60-day terms): 2011 Actual July August 116,000 122,000 September 257,000 2011 Projected October 62,000 November 27,000 December 26,000 Salaries payable monthly Principal payment on debt due in December Interest due in December Dividend payable in December Taxes payable in November Addition to accumulated depreciation in December 20,000 25,700 9,000 15,000 19,000 4,000 Cash balance on October 1, 2011 Minimum desired cash balance 34,000 15,000 Noble's annual income statement and balance sheet for September 30, 2011 appear below. Additional information about the company's accounting methods and expectations for the last three months of 2011 appear in the footnotes. Noble Annual Income Statement Fiscal Year ended September 30, 2011 (S 000) Net sales Cost of goods sold' Gross profits Selling and administrative expenses Interest expense Depreciation Net profit before tax Tax at 33% Net profit after tax 1,581.6 1,098.0 483.6 240.0 18.0 16.0 209.6 69.2 140.4 Noble Balance Sheet September 30, 2011 (000) Assets Cash Accounts receivable Inventory Total current assets Gross fixed assets Accumulated depreciation Net fixed assets Total assets 34.0 212.8 425.0 671.8 135.0 52.0 83.0 754.8 Liabilities Bank loan Accounts payable Accrued expenses Current portion long-term debt Taxes payable Total current liabilities Long-term debt Shareholders' equity Total liabilities and equity 0.0 379.0 55.0 25.7 56.0 515.7 120.0 119.1 754.8 . Cost of goods sold consists entirely of items purchased during the quarter. Selling and administrative expenses consist entirely of salaries. Depreciation is straight-line at the rate of $4,000 per quarter. Accrued expenses are not expected to change in the last quarter. $25.7 due December 2011. No payments for remainder of year. a Construct a pro forma income statement for the last calendar-quarter of 2011 and a pro forma balance sheet as of December 31, 2011. What is your estimated external financing needed for December 31? Noble Selected Information and Financial Statements Sales (20 percent for cash, the rest on 30-day credit terms): 2011 Actual 2011 Projected July August September October 76,000 88,000 266,000 125,000 November 51,000 December 53,000 Purchases (all on 60-day terms): 2011 Actual July August 116,000 122,000 September 257,000 2011 Projected October 62,000 November 27,000 December 26,000 Salaries payable monthly Principal payment on debt due in December Interest due in December Dividend payable in December Taxes payable in November Addition to accumulated depreciation in December 20,000 25,700 9,000 15,000 19,000 4,000 Cash balance on October 1, 2011 Minimum desired cash balance 34,000 15,000 Noble's annual income statement and balance sheet for September 30, 2011 appear below. Additional information about the company's accounting methods and expectations for the last three months of 2011 appear in the footnotes. Noble Annual Income Statement Fiscal Year ended September 30, 2011 (S 000) Net sales Cost of goods sold' Gross profits Selling and administrative expenses Interest expense Depreciation Net profit before tax Tax at 33% Net profit after tax 1,581.6 1,098.0 483.6 240.0 18.0 16.0 209.6 69.2 140.4 Noble Balance Sheet September 30, 2011 (000) Assets Cash Accounts receivable Inventory Total current assets Gross fixed assets Accumulated depreciation Net fixed assets Total assets 34.0 212.8 425.0 671.8 135.0 52.0 83.0 754.8 Liabilities Bank loan Accounts payable Accrued expenses Current portion long-term debt Taxes payable Total current liabilities Long-term debt Shareholders' equity Total liabilities and equity 0.0 379.0 55.0 25.7 56.0 515.7 120.0 119.1 754.8 . Cost of goods sold consists entirely of items purchased during the quarter. Selling and administrative expenses consist entirely of salaries. Depreciation is straight-line at the rate of $4,000 per quarter. Accrued expenses are not expected to change in the last quarter. $25.7 due December 2011. No payments for remainder of year