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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 20 percent to $330 million. Current assets, fixed assets, and short-term debt are 15 percent75 percent, and 5 percent of sales, respectively. Charming Florist pays out 25 percent of its net income in dividends. The company currently has $126 million of long-term debt and $54 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.)
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