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 10 percent to $440 million. Current assets, fixed assets, and short-term debt are 15 percent, 80 percent, and 5 percent of sales, respectively. Charming Florist pays out 20 percent of its net income in dividends. The company currently has $137 million of long-term debt and $65 million in common stock par value. The profit margin is 8 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 stockCurrent assetsLong-term debtAccounts receivableShort-term debtFixed assets	$		(Click to select)Accumulated retained earningsAccounts payableLong-term debtShort-term debtCommon stockCurrent assets	$
(Click to select)Current assetsCommon stockLong-term debtAccounts receivableShort-term debtFixed assets			(Click to select)Accounts payableCommon stockLong-term debtCurrent assetsAccumulated retained earningsShort-term debt
			(Click to select)Current assetsLong-term debtAccounts payableAccumulated retained earningsCommon stockShort-term debt	$
			(Click to select)Common stockCurrent assetsAccumulated retained earningsShort-term debtLong-term debtAccounts payable
			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)Long-term debtCurrent assetsAccumulated retained earningsAccounts receivableFixed assetsShort-term debt	$		(Click to select)Short-term debtLong-term debtAccumulated retained earningsAccounts payableCommon stockCurrent assets	$
(Click to select)Current assetsLong-term debtShort-term debtFixed assetsAccumulated retained earningsAccounts receivable			(Click to select)Common stockAccumulated retained earningsCurrent assetsAccounts payableLong-term debtShort-term debt
			(Click to select)Long-term debtShort-term debtCommon stockCurrent assetsAccounts payableAccumulated retained earnings	$
			(Click to select)Accumulated retained earningsAccounts payableCommon stockCurrent assetsLong-term debtShort-term debt
			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

$