13 The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INCORPORATED 2020 Income Statement $ Sales 755,000 Costs 590,000 Other expenses 26,000 Earnings before interest and $139,000 taxes Interest paid 22,000 Taxable income $117,000 Taxes (22%) 25,740 Net income $91,260 Dividends $ 28,291 Addition to retained earnings 62.969