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 $462 million. Current assets, fixed assets, and short-term debt are 15 percent, 70 percent, and 5 percent of sales, respectively. Charming Florist pays out 25 percent of its net income in dividends. The company currently has $138 million of long-term debt and $66 million in common stock par value. The profit margin is 9 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)Short-term debtCurrent assetsFixed assetsAccounts receivableLong-term debtCommon stock	$		(Click to select)Common stockCurrent assetsLong-term debtAccumulated retained earningsShort-term debtAccounts payable	$
(Click to select)Long-term debtCommon stockFixed assetsAccounts receivableShort-term debtCurrent assets			(Click to select)Accounts payableAccumulated retained earningsLong-term debtShort-term debtCurrent assetsCommon stock
			(Click to select)Long-term debtShort-term debtCommon stockCurrent assetsAccumulated retained earningsAccounts payable	$
			(Click to select)Short-term debtCommon stockAccumulated retained earningsLong-term debtAccounts payableCurrent 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)Accumulated retained earningsShort-term debtFixed assetsAccounts receivableCurrent assetsLong-term debt	$		(Click to select)Current assetsAccounts payableLong-term debtAccumulated retained earningsCommon stockShort-term debt	$
(Click to select)Fixed assetsAccumulated retained earningsShort-term debtCurrent assetsLong-term debtAccounts receivable			(Click to select)Short-term debtLong-term debtAccounts payableCurrent assetsAccumulated retained earningsCommon stock
			(Click to select)Accumulated retained earningsCurrent assetsAccounts payableShort-term debtLong-term debtCommon stock	$
			(Click to select)Common stockCurrent assetsAccounts payableAccumulated retained earningsShort-term debtLong-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

$ send me to answer