Question: Problem 3-9 External Funds Needed 14.28 points Dahlia Colby, CFO of Charming Florist Ltd., has created the firm's pro forma balance sheet for the next

 Problem 3-9 External Funds Needed 14.28 points Dahlia Colby, CFO of

Problem 3-9 External Funds Needed 14.28 points 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 $330 million. Current assets, fixed assets, and short-term debt are 25 percent, 80 percent, and 15 percent of sales, respectively. Charming Florist pays out 30 percent of its net income in dividends. The company currently has $135 million of long-term debt and $63 million in common stock par value. The profit margin is 10 percent. eBook References 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.) Balance Sheet Assets Liabilities and equity Total equity Total liabilities and equity Total assets

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!