$$62,000$ and total equity increased by $$43,500$ for the year. No new equity was issued and no shares were repurchased. What is the retention ratio?Last year, a firm earned $$67,800$ in net income on sales of $$934,600.$ Total assets increased by $$62,000$ and total equity increased by $$43,500$ for the year. No new equity was issued and no shares were repurchased. What is the retention ratio?