QUESTION 1 Given the financial statements below for Firefly Enterprises, what is the external financing need for a pro forma increase in sales of 7%? Enter your answer as the nearest whole (e.g., 123), but do not include the $ sign. Firefly Enterprises Income Statement ($ Million) 2011 740 452 Sales Cost of Goods Sold Selling, General, & Admin Exp. Depreciation Earnings Before Interest & Taxes Interest Expense Taxable Income Taxes at 40% Net Income Dividends Addition to Retained Earnings Balance Sheets as of 12-31 Assets Cash Account Receivable Inventory Total Current Assets Net Fixed Assets Total Assets 2010 20 102 76 198 352 550 2011 20 110 80 210 410 620 2010 2011 Liabilities and Owners Equity Accounts Payable Notes Payable Total Current Liabilities Long-Term Debt Common Stock Retained Earnings Total Liab. and Owners Equity 6270 280 300 34 34 174 216 550 620