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    "question_id": "2553958",
    "url": "\/study-help\/questions\/taylor-technologies-is-a-small-manufacturer-of-ultrasound-equipment-the-2553958",
    "question_creation_date_js": "2024-06-10T02:06:31-04:00",
    "question_creation_date": "Jun 10, 2024 02:06 AM",
    "meta_title": "[Solved] Taylor Technologies is a small manufactur | SolutionInn",
    "meta_description": "Answer of - Taylor Technologies is a small manufacturer of ultrasound equipment. The Year 1 financialstatements for the firm are s | SolutionInn",
    "meta_keywords": "taylor,technologies,small,manufacturer,ultrasound,equipment,year,1,financialstatements,firm,shown,below",
    "question_title_h1": "Taylor Technologies is a small manufacturer of ultrasound equipment. The Year 1 financialstatements for the firm are shown below: Balance Sheet as of December 31,",
    "question_title": "Taylor Technologies is a small manufacturer of ultrasound equipment. The Year 1",
    "question_title_for_js_snippet": "Taylor Technologies is a small manufacturer of ultrasound equipment  The Year 1 financialstatements for the firm are shown below  Balance Sheet as of December 31, Year 1 (thousands of dollars) Cash $90,000 Receivables $180,000 Inventories $360,000 Total current assets $630,000 Net fixed assets $720,000 Total assets $1,350,000 Accounts payable $180,000 Notes payable $78,000 Accruals $90,000 Total current liabilities $348,000 Common stock $900,000 Retained earnings $102,000 Total liabil   equity $1,350,000 Income Statement for Year 1 (thousands of dollars) Sales $1,800,000 Operating costs $1,639,860 Earnings before interest and taxes $160,140 Interest $10,140 Earnings before taxes $150,000 Taxes (40 ) $60,000 Net income $90,000 Dividends (60 ) $54,000 Addition to retained earnings $36,000 Suppose that in Year 2, sales increase by 10 percent over Year 1 sales  Construct the pro forma financial statements using the constant growth method  Assume the firm operated at full capacity in Year 1  I need the external funding requirement ",
    "question_description": "<p><strong>Taylor Technologies is a small manufacturer of ultrasound equipment. The Year 1 financialstatements for the firm are shown below:<\/strong><\/p> <p> <\/p> <p><strong>Balance Sheet as of December 31, Year 1 (thousands of dollars)<\/strong><\/p> <p><strong>Cash<\/strong> <strong>$90,000<\/strong><\/p> <p><strong>Receivables<\/strong> <strong>$180,000<\/strong><\/p> <p><strong>Inventories<\/strong> <strong>$360,000<\/strong><\/p> <p><strong>Total current assets $630,000<\/strong><\/p> <p><strong>Net fixed assets<\/strong> <strong>$720,000<\/strong><\/p> <p><strong>Total assets<\/strong> <strong>$1,350,000<\/strong><\/p> <p> <\/p> <p><strong>Accounts payable<\/strong> <strong>$180,000<\/strong><\/p> <p><strong>Notes payable<\/strong> <strong>$78,000<\/strong><\/p> <p><strong>Accruals<\/strong> <strong>$90,000<\/strong><\/p> <p><strong>Total current liabilities<\/strong> <strong>$348,000<\/strong><\/p> <p><strong>Common stock<\/strong> <strong>$900,000<\/strong><\/p> <p><strong>Retained earnings<\/strong> <strong>$102,000<\/strong><\/p> <p><strong>Total liabil & equity<\/strong> <strong>$1,350,000<\/strong><\/p> <p> <\/p> <p> <\/p> <p><strong>Income Statement for Year 1 (thousands of dollars)<\/strong><\/p> <p><strong>Sales<\/strong> <strong>$1,800,000<\/strong><\/p> <p><strong>Operating costs<\/strong> <strong>$1,639,860<\/strong><\/p> <p><strong>Earnings before interest and taxes<\/strong> <strong>$160,140<\/strong><\/p> <p><strong>Interest<\/strong> <strong>$10,140<\/strong><\/p> <p><strong>Earnings before taxes<\/strong> <strong>$150,000<\/strong><\/p> <p><strong>Taxes (40%)<\/strong> <strong>$60,000<\/strong><\/p> <p><strong>Net income<\/strong> <strong>$90,000<\/strong><\/p> <p><strong>Dividends (60%)<\/strong> <strong>$54,000<\/strong><\/p> <p><strong>Addition to retained earnings<\/strong> <strong>$36,000<\/strong><\/p> <p> <\/p> <p> <\/p> <p><strong>Suppose that in Year 2, sales increase by 10 percent over Year 1 sales. Construct the pro forma financial statements using the constant growth method. Assume the firm operated at full capacity in Year 1. I need the external funding requirement.<\/strong><\/p>",
    "transcribed_text": "",
    "related_book": {
        "title": "Horngrens Financial and Managerial Accounting",
        "isbn": "9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292",
        "edition": "5th edition",
        "authors": "Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/467.jpg",
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    "question_posted": "2024-06-10 02:06:31",
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