Dahlia Colby, CFO of Charming Florist Limited, has created the firms pro forma balance sheet for the next fiscal year. Sales are projected to grow by 20 percent to $450 million. Current assets, fixed assets, and short-term debt are 15 percent, 70 percent, and 5 percent of sales, respectively. Charming Florist pays out 20 percent of its net income in dividends. The company currently has $133 million of long-term debt and $61 million in common stock par value. The profit margin is 16 percent.

a.	Construct the current balance sheet for the firm using the projected sales figure. (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

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

c-1.	Construct the firms pro forma balance sheet for the next fiscal year. (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

c-2.	Calculate the external funds needed. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

\begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Balance Sheet } \\ \hline \multicolumn{2}{|c|}{ Assets } & \multicolumn{2}{c|}{ Liabilities and equity } \\ \hline Current assets & & Short-term debt & \\ \hline Fixed assets & & & \\ \hline & & Long-term debt & \\ \hline & & & \\ \hline & & Tccumulated retained earnings & \\ \hline & & Total equity & \\ \hline & & Total liabilities and equity & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Balance Sheet } \\ \hline \multicolumn{2}{|c|}{ Assets } & \multicolumn{2}{c|}{ Liabilities and equity } \\ \hline Current assets & Short-term debt & \\ \hline Fixed assets & & & \\ \hline & & Long-term debt & \\ \hline & & & \\ \hline & & Accumulated retained earnings & \\ \hline & & Total equity & \\ \hline \end{tabular} External financing needed External financing needed