Please show steps and preferably use this format. Growth rate is 10%.

Cheryl 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 10 percent to $420 million. Current assets, fixed assets, and short-term debt are 20 percent, 75 percent, and 15 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $120 milion of long-term debt and $48 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. (Do not round intermediate calculations. Enter your answers in dollars, not millions of dollars, i.e. 1,234,567 Round your answers to the nearest whole dollar amount. (e.g., 32)) Balance Sheet Assets Liabilities and equity Current assets Short-term debt Fixed assets Long-term debt 120,000,000 Common stock 48,000,000 Accumulated retained earnings Total equity Total assets Total liabilities and equity b. Based on Ms. Colby's 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, i.e. 1,234,567. Do not round intermediate calculations and round your final answer to the nearest whole dollar amount. (e.g., 32)) External financing needed