the questions below: Taylor, Inc. 2015 Income Statement Goods Sold sation ore Interest and Taxes Paid me $28.900 23.400 1.600 3.900 280 S 3.620 1.230 S. 2390 $936 to retained earnings Taylor Ine. Balance Sheet Year Ending Dec. 31. 2015 $1,530 Accounts Payable Receivable 2,780 Notes Payable $1,750 3,410 Total Cur. Liabilities 1.000 ent Assets 7,720 Long Term Debt 2.750 4,000 Owner's Equity Asssets 12.840 Common Stock 8,000 Retained Earnings 5.810 Total Owner's Equity 13,810 Total Liab & Owner's $20,560 Equity S20,560 expects its sales to increase 20% next year. Current assets, accounts payable ire proportional to sales. Debt and equity are not. Depreciation and Interest istant. Tax rate of 34% remains the same. The firm's retention ratio remains t 60%. SHOW ALL CALCULATIONS s operating at full capacity calculate the external financing needed (EFN) to support wwth rate in sales by preparing a proforma income statement and proforma balance Marks) USE GOOD FORMAT. ROUND IS AND BS AMOUNTS TO THE DOLLAR. There is additional space on the next page. a) 2072 the questions below: Taylor, Inc. 2015 Income Statement Goods Sold sation ore Interest and Taxes Paid me $28.900 23.400 1.600 3.900 280 S 3.620 1.230 S. 2390 $936 to retained earnings Taylor Ine. Balance Sheet Year Ending Dec. 31. 2015 $1,530 Accounts Payable Receivable 2,780 Notes Payable $1,750 3,410 Total Cur. Liabilities 1.000 ent Assets 7,720 Long Term Debt 2.750 4,000 Owner's Equity Asssets 12.840 Common Stock 8,000 Retained Earnings 5.810 Total Owner's Equity 13,810 Total Liab & Owner's $20,560 Equity S20,560 expects its sales to increase 20% next year. Current assets, accounts payable ire proportional to sales. Debt and equity are not. Depreciation and Interest istant. Tax rate of 34% remains the same. The firm's retention ratio remains t 60%. SHOW ALL CALCULATIONS s operating at full capacity calculate the external financing needed (EFN) to support wwth rate in sales by preparing a proforma income statement and proforma balance Marks) USE GOOD FORMAT. ROUND IS AND BS AMOUNTS TO THE DOLLAR. There is additional space on the next page. a) 2072