Given the financial statements below for Dragonfly Enterprises, what is the external financing need for a...

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Given the financial statements below for Dragonfly Enterprises,what is the external financing need for a pro forma increase insales of 12% if the company is operating at full capacity? Enteryour answer as the nearest whole (e.g., 123), but do not includethe $ sign. Dragonfly Enterprises Income Statement ($ Million) 2011Sales 370 Cost of Goods Sold 226 Selling, Gen & Admin Exp 62Depreciation 20 Earnings Before Int & Tax 62 Interest Expense12 Taxable Income 50 Taxes at 40% 20 Net Income 30 Dividends 9Addition to Retained Earn. 21 Balance Sheets as of 12-31 Assets2010 2011 Cash 10 10 Account Receivable 46 50 Inventory 43 45 TotalCurrent Assets 99 105 Net Fixed Assets 166 195 Total Assets 265 300Liabilities and Owners Equity 2010 2011 Accounts Payable 26 30Notes Payable 0 0 Total Current Liabilities 26 30 Long-Term Debt140 150 Common Stock 22 22 Retained Earnings 77 98 Total Liab. andOwners Eq 265 300

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Ans Income statement for the year 2011 Million Sales 370 COGS 226 Selling Gen Admin exp 62 Depreciation 20 EBIT 62 Interest exp 12 Taxable income 50 Tax 20 Net income 30 Dividend 9 Retained earning 21 Balance sheet Liabilities 2010 2011 Assets 2010 2011 See Answer

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