Cheryl Colby, CFO of Charming Florist Ltd., has created the firms pro forma balance sheet for the next fiscal year. Sales are projected to grow by 12 percent to $350 million. Current assets, fixed assets, and short-term debt are 20 percent, 80 percent, and 10 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $127 million of long-term debt and $55 million in common stock par value. The profit margin is 12 percent. a.

Prepare the current balance sheet for the firm using the projected sales figure. (Enter your answers in dollars, not millions of dollars, i.e. 1,234,567. Do not round intermediate calculations and round your answers to the nearest whole dollar amount. (e.g., 32))

Balance Sheet
Assets			Liabilities and equity
(Click to select)Short-term debtAccounts receivableFixed assetsCommon stockCurrent assetsLong-term debt	$		(Click to select)Common stockCurrent assetsLong-term debtShort-term debtAccounts payableAccumulated retained earnings	$
(Click to select)Common stockFixed assetsCurrent assetsShort-term debtLong-term debtAccounts receivable			(Click to select)Current assetsLong-term debtCommon stockShort-term debtAccumulated retained earningsAccounts payable
			(Click to select)Current assetsAccounts payableLong-term debtShort-term debtCommon stockAccumulated retained earnings	$
			(Click to select)Common stockCurrent assetsShort-term debtLong-term debtAccumulated retained earningsAccounts payable
			Total equity	$
Total assets	$		Total liabilities and equity	$

b.

Based on Ms. Colbys sales growth forecast, how much does Charming Florist need in external funds for the upcoming fiscal year? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Do not round intermediate calculations and round your final answer to the nearest whole dollar amount. (e.g., 32))

External financing needed

$

c-1.	Prepare the firms pro forma balance sheet for the next fiscal year. (Enter your answers in dollars, not millions of dollars, i.e. 1,234,567. Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. (e.g., 32))

Balance Sheet
Assets			Liabilities and equity
(Click to select)Accounts receivableCurrent assetsShort-term debtFixed assetsLong-term debtAccumulated retained earnings	$		(Click to select)Short-term debtAccumulated retained earningsCurrent assetsCommon stockAccounts payableLong-term debt	$
(Click to select)Current assetsFixed assetsAccumulated retained earningsAccounts receivableLong-term debtShort-term debt			(Click to select)Accumulated retained earningsLong-term debtCommon stockAccounts payableCurrent assetsShort-term debt
			(Click to select)Common stockAccumulated retained earningsCurrent assetsAccounts payableShort-term debtLong-term debt	$
			(Click to select)Short-term debtAccounts payableLong-term debtCurrent assetsCommon stockAccumulated retained earnings
			Total equity	$
Total assets	$		Total liabilities and equity	$

c-2.	Calculate the external funds needed. (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Do not round intermediate calculations and round your final answer to the nearest whole dollar amount. (e.g., 32))

External financing needed

$