A company currently has sales of $895,370, a tax rate of 36%, a dividend payout ratio of 44%, and expenses excluding taxes of $760,930. What is the anticipated increase to retained earnings if sales are expected to increase by 9.50%, and expenses excl. taxes are proportional to sales?

Question 1 options:

	$48,804
	$50,123
	$51,442
	$52,761
	$54,080