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)Long-term debtShort-term debtCommon stockAccounts receivableCurrent assetsFixed assets	$		(Click to select)Accumulated retained earningsCurrent assetsAccounts payableLong-term debtCommon stockShort-term debt	$
(Click to select)Current assetsShort-term debtAccounts receivableLong-term debtCommon stockFixed assets			(Click to select)Accumulated retained earningsCommon stockShort-term debtLong-term debtAccounts payableCurrent assets
			(Click to select)Short-term debtCommon stockLong-term debtAccumulated retained earningsCurrent assetsAccounts payable	$
			(Click to select)Long-term debtShort-term debtAccounts payableCommon stockAccumulated retained earningsCurrent 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)Long-term debtAccounts receivableFixed assetsCurrent assetsAccumulated retained earningsShort-term debt	$		(Click to select)Short-term debtCurrent assetsLong-term debtCommon stockAccounts payableAccumulated retained earnings	$
(Click to select)Current assetsAccumulated retained earningsShort-term debtFixed assetsAccounts receivableLong-term debt			(Click to select)Accumulated retained earningsCommon stockLong-term debtCurrent assetsAccounts payableShort-term debt
			(Click to select)Current assetsAccounts payableLong-term debtCommon stockAccumulated retained earningsShort-term debt	$
			(Click to select)Current assetsShort-term debtCommon stockLong-term debtAccumulated retained earningsAccounts payable
			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

$