Income Statement
Sales	$15,000.00
Operating Expenses	$13,000.00
EBIT	$2,000.00
Interest	$400.00
EBT	$1,600.00
Taxes (40% payout)	$640.00
Net Income	$960.00
Cash Dividends (40% payout)	$384.00
Added Retained Earnings	$576.00
Balance Sheet
Cash and marketable securities	$1,000.00		Accounts payable	$1,600.00
Accounts receivable	$2,000.00		bank loan	$1,800.00
inventories	$2,200.00		accrued liabilities	$1,200.00
Total current assets	$5,200.00		total current liabilities	$4,600.00
			long-term debt	$2,200.00
			common stock	$2,400.00
fixed assets, net	$6,800.00		retained earnings	$2,800.00
total assets	$12,000.00		total liabilities and equity	$12,000.00
Dividend Payout Ration	0.4

I am not getting Part B. Someone please help me.

Pharma Biotech is seeking your assistance in preparing its projected financial statements using the percent-of-sales method. Initial projected financial statements can be prepared by hand using a financial calculator or by constructing spreadsheet-based solutions. A. Prepare a projected income statement for 2011 for Pharma Biotech before obtaining any additional financing. B. Prepare a projected balance sheet for 2011 for Pharma Biotech before obtaining any additional financing. C. Based on your projected balance sheet for Pharma Biotech for 2011, what is your estimate of the additional funds needed? Why does the AFN from your initial percent-of-sales projected financial statements differ from the AFN estimated using the formula method in Item C above? D. Prepare a projected statement of cash flows for Pharma Biotech for 2011.