160. Given the following information: sales = $450, costs = $350, tax rate = 34%, retention ratio = 30%, production = 95% of capacity, sales increase = 10%. What is the expected addition to retained earnings? (Assume costs change directly with sales.) A. $1.98 B. $11.22 C. $19.80 D. $21.78 E. $50.82 Difficulty: Intermediate Learning Ohjective: 04-04 The factors determining the growth of the firm. Ross - Chapter 04 #160 Type: Problems 161. Pickup Industries has a profit margin of 15% and a dividend payout of 40%. Last year's sales were $600 million and total assets were $400 million. None of the liabilities vary directly with sales, but assets and costs do. If the sales growth rate for Pickup is 20%, how much external financing is needed? A. $5.2 million B. $13.1 million C. $15.2 million D. $21.3 million E. $26.0 million