Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Inc

Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION
Income Statement   Sales $ 43,500   Costs 34,100   Taxable income $ 9,400   Taxes (24%) 2,256   Net income $ 7,144      Dividends $ 3,000      Addition to retained earnings 4,144

The projected sales growth rate is 15 percent.

Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant.

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What is the projected addition to retained earnings? Sales Costs Taxable income Taxes Net Income

 

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