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Homework answers / question archive / Cheryl Colby, CFO of Charming Florist Ltd
Cheryl Colby, CFO of Charming Florist Ltd., has created the firmAc€?cs pro forma balance sheet for the next fiscal year. Sales are projected to grow by 20 percent to $420 million. Current assets, fixed assets, and short-term debt are 20 percent, 70 percent, and 10 percent of sales, respectively. Charming Florist pays out 20 percent of its net income in dividends. The company currently has $129 million of long-term debt, and $57 million in common stock par value. The profit margin is 14 percent.
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1.) Prepare the current balance sheet for the firm using the projected sales figure. (Enter your answers in dollars, not millions of dollars, e.g. 1,234,567. Do not round intermediate calculations.)
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