A). FrozzbozCo International has the following Income statement for 2012. What is the firms Retained Earnings if they pay out 0.37 of their Net Income as Dividends? (Round to nearest penny and do not enter commas, e.g. 1234.56)

2012 Income Statement

Revenue	179657
Costs	75649
Depreciation	16927
Ebit
Interest Expense	9017
Taxable Income
Tax Expense @ 22%
Net Income

B). Steinhardt Wig Company has the following Income statement and balance sheet for 2005. The firm paid out 65% of it's Net Income as Dividends. What is the firms Cash Flow to Equity Holders? (Round to nearest penny and do not enter commas, e.g. 1234.56)

2005 Income Statement

Revenue	222801
Costs	10104
Depreciation	15205
Ebit
Interest Expense	7688
Taxable Income
Tax Expense @ 22%
Net Income

2005 Balance Sheet

Year	2004	2005		2004	2005
Current Assets	19972	17232	Current Liabilities	14634	16343
Fixed Assets	149965	161218	Long-Term Debt	138334	153968
			Common Stock	30481	37671