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Cheryl Colby, CFO of Charming Florist Ltd.. has created the firm's pro form3 balance sheet for the next fiscal year. Sales are projected to grow
Cheryl Colby, CFO of Charming Florist Ltd.. has created the firm's pro form3 balance sheet for the next fiscal year. Sales are projected to grow by 15 percent to $460 million. Current assets, fixed assets, and short-term debt are 15 percent. 70 percent. and 5 percent of sales, respectively. Charming Florist pays out 25 percent of its net income in dividends. The company currently has $130 million of long-term debt 3nd $53 million in common stock per value. The profit mergin is 12 percent. Prepare the current balance sheet for the firm using the projected s3les figure. (Enter your answers in dollars, not millions of dollars, i.e. 1,234,587. Do not round intermediate calculations and round your answers to the nearest whole dollar amount, (e.g., 32)) Based on Ms. Colbys ssles growth forecsst, 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 inter mediate calculations and round your final answer to the nearest whole dollar amount, (e.g., 32)) External financing needed Prepare the firm's pro forme balance sheet for the nextfiscal 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)) 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))
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