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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

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 10 percent to $420 million. Current assets, fixed assets and short-term debt are 20 percent, 75 percent and 15 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $120 million of long-term debt and $48 million in common stock par value. The profit margin is 9 percent. Construct the firms pro forma balance sheet for the next fiscal year and confirm the external funds needed for the upcoming fiscal year. Net Income = $______________ Addition to Accumulated retained earnings = $______________ Total Assets = $______________ Total Equity = $______________ The External Financing Needed = $___________

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