Dahlia 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 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.

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
(Click to select)Common stockAccounts receivableCurrent assetsLong-term debtShort-term debtFixed assets	$		(Click to select)Accounts payableLong-term debtCurrent assetsShort-term debtCommon stockAccumulated retained earnings	$
(Click to select)Common stockFixed assetsShort-term debtLong-term debtAccounts receivableCurrent assets			(Click to select)Common stockAccumulated retained earningsLong-term debtShort-term debtCurrent assetsAccounts payable
			(Click to select)Long-term debtCurrent assetsShort-term debtCommon stockAccounts payableAccumulated retained earnings	$
			(Click to select)Accumulated retained earningsAccounts payableCommon stockLong-term debtShort-term debtCurrent assets
			Total equity	$
Total assets	$		Total liabilities and equity	$

b.

Based on Ms. Colbys 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., 32.)

External financing needed

$

c-1.

Prepare the firms pro forma balance sheet for the next fiscal year. (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
(Click to select)Current assetsShort-term debtLong-term debtAccounts receivableAccumulated retained earningsFixed assets	$		(Click to select)Current assetsCommon stockShort-term debtAccumulated retained earningsLong-term debtAccounts payable	$
(Click to select)Accumulated retained earningsFixed assetsLong-term debtAccounts receivableCurrent assetsShort-term debt			(Click to select)Accounts payableCommon stockShort-term debtAccumulated retained earningsLong-term debtCurrent assets
			(Click to select)Current assetsLong-term debtShort-term debtCommon stockAccumulated retained earningsAccounts payable	$
			(Click to select)Long-term debtShort-term debtAccounts payableCommon stockCurrent assetsAccumulated retained earnings
			Total equity	$
Total assets	$		Total liabilities and equity	$

c-2.	Calculate the external funds needed. (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., 32.)

External financing needed

$