The Longbranch Western Wear Company has the following financial statements, which are representative of the company's historical average. Sales Expenses Earnings before interest and taxes Interest Earnings before taxes Taxes Earnings after taxes Dividends Assets Cash Accounts receivable Inventory Current assets Capital assets Total assets Income Statement $3,000 27,000 32,000 $62,000 87,000 $149,000 201 $200,000 164, 300 $ 35,700 3,700 $ 32,000 10,000 $ 22,000 $ 11,000 Balance Sheet Liabilities and Shareholders' Equity Accounts payable Accrued wages Accrued taxes Current liabilities Notes payable Long-term debt Common stock Retained earnings Total liabilities and equity $15,700 2,900 15,400 $34,000 8,700 23,500 37,000 45,800 $149,000

The Longbranch Western Wear Company has the following financial statements, which are representative of the company's historical average. c. Calculate the current ratio and total debt to assets ratio for each year. (Round the final answers to 2 decimal ploces.) Longbranch is expecting a 30 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. Of liabilities, only current liabilities vary directly with sales. o. Using a percent-of-sales method, determine whether Longbranch Western Wear has external financing needs. (Input the amount as a positive value.) The firm $ in 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 th assets and liabilities in order of their liquidity. Do not leave any empty spaces; input a 0 wherever it is required.)