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The Comodores ltd wants to determine its liquidity position in 6 years from closure of business in year 2021. The financial position as at December 2021 was:

Balance sheet as at 31 December, 2021

Fixed assets:	Ksh. 000	Ksh. 000
Freehold premises	9,744,000
Leasehold premises	6,960,000
Plant and equipment	6,496,000
Motor vehicles	3,480,000	26,680,000
Current assets:
Stocks	12,296,000
Debtors	5,104,000
Bank balance	1,392,000	18,792,000
		45,472,000
Capital & liabilities:
Creditors	8,352,000
Accrued expenses	6,496,000
Ordinary share capital	23,200,000
Reserves	2,204,000
15% loan	5,220,000	45,472,000
		45,472,000

Additional information:

1. The loan will mature before the end of the 5 year period and will be duly settled.

2. Sales for year 2021 amounted to ksh 92,800m and are expected to grow by 6% per year in each of the six years from 2022 to 2027.

3. Dividend payout ratio of 28% is to be maintained.

4. Profit before tax is to be maintained at 14% of sales.

5. The 15% loan is maturing in the year 2025.

6. Each of the balance sheet items, (except ordinary share capital, reserves and 15% loan) have a relationship with the turnover which is expected to remain for the foreseeable future.

7. Corporation tax rate is 30%.

Required:

Determine the amount external financing required or surplus cash available as at 31 December, 2027 and prepare the proforma statement of financial position as at that date.

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