Last year, Lombardi Corporation had sales of $100 and ended the year with the balance sheet below. For this year, management forecasts sales of $120, net income of $6, and dividends of $3. Long-term debt and common stock are discretionary; the remaining accounts are spontaneous. Forecast Lombardi's external financing needed (EFN) for this year using the percentage-of-sales method. Cash $ 10 Accounts payable $ 15 Accounts receivable 25 Long-term debt 50 Inventories 30 Common stock 30 Plant and equipment 60 Retained earnings 30 TOTAL ASSETS $ 125 TOTAL LIAB & EQUITY $ 125 a. $9. b. $16. C. $3. d. $19. Keating Company had a retained earnings balance of $1,385 at the end of last year. This year the company projects sales of $678 with a 7% net profit margin and expects to pay $12 in dividends. Forecast the balance of retained earnings at the end of this year.. O a. $1,432.46. O b. $1,420.46. O c. $713.46. d. $35.46. Last year, Lombardi Corporation had sales of $100 and ended the year with the balance sheet below. For this year, management forecasts sales of $120, net income of $6, and dividends of $3. Long-term debt and common stock are discretionary; the remaining accounts are spontaneous. Forecast Lombardi's external financing needed (EFN) for this year using the percentage-of-sales method. Cash $ 10 Accounts payable $ 15 Accounts receivable 25 Long-term debt 50 Inventories 30 Common stock 30 Plant and equipment 60 Retained earnings 30 TOTAL ASSETS $ 125 TOTAL LIAB & EQUITY $ 125 a. $9. b. $16. C. $3. d. $19. Keating Company had a retained earnings balance of $1,385 at the end of last year. This year the company projects sales of $678 with a 7% net profit margin and expects to pay $12 in dividends. Forecast the balance of retained earnings at the end of this year.. O a. $1,432.46. O b. $1,420.46. O c. $713.46. d. $35.46