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a. Using a percent-of-sales method, determine whether Longbranch Western Wear has external financing needs. b. Prepare a pro forma balance sheet with any financing adjustment
a. Using a percent-of-sales method, determine whether Longbranch Western Wear has external financing needs. b. Prepare a pro forma balance sheet with any financing adjustment made to notes payable and excess, if any, shall reduce long term debt. c. Calculate the current ratio and total debt to assets ratio for each year. (Round the final answers to 2 decimal places.)
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