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Dahlia 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
Dahlia 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 10 percent to 5440 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 $122 million of long-term debt and 550 million in common stock par value. The profit margin is 9 percent a. Prepare the current balance sheet for the firm using the projected sales figure. (Be sure to list the assets and liabilities in order of their liquidity. Enter your answers in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answers to the nearest whole number, e.g.,32.) Balance Sheet Assets Liabilities and equity Current assets Short-term debt Fixed assets -term debt Common stock Accumulated retained earnin Total equity 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? (Enter your answer in dollars, not millions of dollars, e.g, 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g
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