Cheryl Colby, CFO of Charming Florist Ltd$.,$ has created the firm$$s pro forma balance sheet for the next fiscal year. Sales are projected to grow by $20$ percent to $$330$ million. Current assets, fixed assets, and short$-$term debt are $15$ percent, $75$ percent, and $5$ percent of sales, respectively. The company pays out $25$ percent of its net income in dividends. The company currently has $$126$ million of long$-$term debt, and $$54$ million in common stock par value. The profit margin is $16$ percent.

a$.$ Prepare the current balance sheet for the firm using the projected sales figure. $($Do not round intermediate calculations. Accounts should be entered by order of liquidity $($e$.$g$.$ current accounts before long$-$term$).$ Enter your answers in dollars, not millions of dollars, e$.$g$.1,234,567.)$

BALANCE SHEET

Assets Liabilities and equity

$

$

$

Total equity $

Total assets $ Total liabilities and equity $

b$.$ Based on the sales growth forecast, how much does the company need in external funds for the upcoming fiscal year using the EFN equation from the textbook? $($Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e$.$g$.1,234,567.)$

External financing needed $

c$-1.$ Prepare the firm$$s pro forma balance sheet for the next fiscal year. $($Do not round intermediate calculations. Accounts should be entered by order of liquidity $($e$.$g$.$ current accounts before long$-$term$).$ Enter your answers in dollars, not millions of dollars, e$.$g$.1,234,567.)$

BALANCE SHEET

Assets Liabilities and equity

$

$

$

Total equity $

Total assets $ Total liabilities and equity $

c$-2.$ Calculate the external funds needed. $($Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e$.$g$.1,234,567.)$

External financing needed $