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 14.5 percent to $405 million. Current assets, fixed assets, and short-term debt are 28 percent, 137 percent, and 15 percent of sales, respectively. Charming Florist pays out 18 percent of its net income in dividends. The company currently has $115 million of long-term debt, and $28 million in common stock par value. The profit margin is 7 percent. Required: a. Construct the current balance sheet for the firm using the projected sales figure. (Do not include the dollar signs ($). Round your answers to the nearest whole dollar amount. (e.g.,1,234,567)) Assets Liabilities and equity Current assets Short-term debt Long-term debt Fixed assets $ $ Common stock Accumulated retained earnings Total equity $ 00 Total assets $ Total liabilities and equity $ b. Based on Ms. Colby's sales growth forecast, how much does Charming Florist need in external funds for the upcoming fiscal year? (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount. (e.g., 1,234,567)) External funds needed $ c. Construct the firm's pro forma balance sheet for the next fiscal year and confirm the external funds needed that you calculated in part (b). (Do not include the dollar signs ($). Round your answers to the nearest whole dollar amount. (e.g.,1,234,567). The balance sheet should not balance by the EFN.) Assets Current assets $ Liabilities and equity Short-term debt Long-term debt $ $ Fixed assets $ Common stock Accumulated retained earnings Total equity $ 10 001 Total assets $ Total liabilities and equity 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 14.5 percent to $405 million. Current assets, fixed assets, and short-term debt are 28 percent, 137 percent, and 15 percent of sales, respectively. Charming Florist pays out 18 percent of its net income in dividends. The company currently has $115 million of long-term debt, and $28 million in common stock par value. The profit margin is 7 percent. Required: a. Construct the current balance sheet for the firm using the projected sales figure. (Do not include the dollar signs ($). Round your answers to the nearest whole dollar amount. (e.g.,1,234,567)) Assets Liabilities and equity Current assets Short-term debt Long-term debt Fixed assets $ $ Common stock Accumulated retained earnings Total equity $ 00 Total assets $ Total liabilities and equity $ b. Based on Ms. Colby's sales growth forecast, how much does Charming Florist need in external funds for the upcoming fiscal year? (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount. (e.g., 1,234,567)) External funds needed $ c. Construct the firm's pro forma balance sheet for the next fiscal year and confirm the external funds needed that you calculated in part (b). (Do not include the dollar signs ($). Round your answers to the nearest whole dollar amount. (e.g.,1,234,567). The balance sheet should not balance by the EFN.) Assets Current assets $ Liabilities and equity Short-term debt Long-term debt $ $ Fixed assets $ Common stock Accumulated retained earnings Total equity $ 10 001 Total assets $ Total liabilities and equity
