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 $330 million. Current assets, fixed assets, and short-term debt are 15 percent, 75 percent, and 5 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $131 million of long-term debt and $59 million in common stock par value. The profit margin is 10 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)Accounts receivableCommon stockFixed assetsShort-term debtLong-term debtCurrent assets	$		(Click to select)Short-term debtLong-term debtCommon stockAccounts payableAccumulated retained earningsCurrent assets	$
(Click to select)Current assetsCommon stockAccounts receivableLong-term debtShort-term debtFixed assets			(Click to select)Accumulated retained earningsCommon stockShort-term debtLong-term debtAccounts payableCurrent assets
			(Click to select)Common stockLong-term debtShort-term debtAccumulated retained earningsAccounts payableCurrent assets	$
			(Click to select)Accumulated retained earningsAccounts payableCommon stockCurrent assetsShort-term debtLong-term debt
			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)Fixed assetsShort-term debtAccumulated retained earningsCurrent assetsLong-term debtAccounts receivable	$		(Click to select)Short-term debtCurrent assetsCommon stockLong-term debtAccounts payableAccumulated retained earnings	$
(Click to select)Current assetsAccumulated retained earningsAccounts receivableShort-term debtLong-term debtFixed assets			(Click to select)Common stockShort-term debtAccumulated retained earningsCurrent assetsAccounts payableLong-term debt
			(Click to select)Current assetsAccounts payableShort-term debtCommon stockLong-term debtAccumulated retained earnings	$
			(Click to select)Long-term debtAccounts payableShort-term debtCurrent assetsAccumulated retained earningsCommon stock
			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

$