Problem 3-9 External Funds Needed Dahlia 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 $440 million. Current assets, fixed assets, and short-term debt are 20 percent, 80 percent, and 10 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $122 million of long-term debt and $50 million in common stock par value. The profit margin is 9 percent. a. Construct the current balance sheet for the firm using the projected sales figure. (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) Assets Balance Sheet Liabilities and equity 88,000,000 Short-term debt 352,000,000 Long-term debt Current assets $ 44,000,000 122,000,000 Fixed assets $ Common stock Accumulated retained earnings 50,000,000 224,000,000 Total equity 440,000,000 Total liabilities and equity 274,000,000 440,000,000 Total assets $ $ b. Based on Ms. Colby's sales growth forecast, how much does Charming Florist need in external funds for the upcoming fiscal year? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) External financing needed c-1. Construct the firm's pro forma balance sheet for the next fiscal year. (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) C-1. Construct the firm's pro forma balance sheet for the next fiscal year. (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) Balance Sheet Assets Liabilities and equity Total equity Total liabilities and equity Total assets c-2. Calculate the external funds needed. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) External financing needed