The Longbranch Western Wear Company has the following financial statements, which are representative of the company's historical 1210,000 156500 $53,500 Earning bore utrust and taxes Interest Earnings before taxe Earning after taxes Didende 50:500 19,000 $1,500 2100 usta Accounts receivable Inventory Capital assets LABEL shareholders wity 50.000 Accounts payable 59.000 20.00 Add we 2.200 25,000 Acerved at 3.100 369.000 Carrot laite 521000 10,000 motos payable 3.000 Long-ter debt 30,000 Costock 30,000 Ratandang 30.000 $125,000 Total Habilities and equity $129,000 Total assets Longbranch is expecting a 25 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of capital assets. Instead, it will be done through more efficient asset utilization in the existing stores Olabitles, only current sites vary directly with sales. a. Using a percent of sales method, determine whether Longbranch Western Wear has external financing needs. Oinput the amount as a positive value.) The firm has in murgildu funds b. Prepare a pro forma balance sheet with any financing adjustment made to notes payable and excets. If any, shall reduce long term Prey 1 of 2 Next > a. Using a percent of sales method determine whether Longbranch Western Wear has external financing needs. (Input the amount as positive value) The firm has Tin surplus fundit b. Prepare a pro forma balance sheet with any financing adjustment made to notes payable and excess, if any, shall reduce long term debt (input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Do not leave any empty spaces: input a 0 wherever it is required.) alance that 5 $ Cash Accounts receivable Inventory Accounts payable Accrued wagas Accrued taxes Current at Capital Ansels $ current liabilities Notes payable Long-term debt Common stock Retained Gaming 5 Total arts Total liabilities and equity c. Calculate the current ratio and total debt to assets ratio for each year. (Round the final answers to 2 decimal places.) Year 1 Tour 2 Current ratio Sotal debt/ assets Pray 1 of 23 Next >