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 20 percent to $420 million. Current assets, fixed assets, and short-term debt are 25 percent, 70 percent, and 15 percent of sales, respectively. Charming Florist pays out 25 percent of its net income in dividends. The company currently has $128 million of long-term debt and $56 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 dollar amount, e.g., 1.234,567.) Assets Answer is complete but not entirely correct. Balance Sheet Liabilities and equity Short-term debt 245 Long-term debt $ 88 s Current assets Fixed assets 53 X 128 $ Common stock Accumulated retained earnings 56 X 96 X IS Total equity Total liabilities and equity 152 X 333 X Total assets 333 $ b. Based on Ms. Colby's 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 dollar amount, e.g., 1,234,567.) Answer is complete but not entirely correct. External financing needed $ 6 X