Pro-Forma Question on Case Study Help!!!

All,

One of my interviews is requiring me to value a fictitious company. They give me the Income and Balance Sheet for Yr 1. Its a very basic statement with Sales, COGS, OPEX and NI and CASH, AR, INV, PPE, AP, and Debt. No Dep or Int

They basically project out the income statement and capex for the next 2yrs. They also require debt to equity to be maintained. I've projected working capital to grow with sales. I need to also include a CF statement, so my balance sheet is dictated by all of their assumptions (except working capital). Right now assets are -10M less than L+E. I'm not sure where I'm going wrong, if I adjust my debt down my cash goes down and into the negative.

Thanks for any help. I haven't done any pro-forma for quite some time so this is a learning curve for me. If you guys want me to give you all of the assumptions let me know.

Best.