4. Basking Robins, an outdoor pet shop chain specializing in birds, has current sales of $10 million. Its net margin is 5% and it has a dividend payout ratio of 40%. The balance sheet is showing a retained earnings balance of $2.3 million. If sales are projected to increase 10% next year and margins and payout ratios will be maintained, what would you forecast for a retained earnings balance for next ye: a. $2.73 million b. $2.63 million C. $2.40 million d. $2.33 million