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Assuming sales growth of 28% this coming year, what is the projected addition to retained earnings (change in retained earnings) at the end of this
Assuming sales growth of 28% this coming year, what is the projected addition to retained earnings (change in retained earnings) at the end of this coming year? (round answer to nearest dollar) Income Statement Last Year Sales $21,016,395 6,643,514 Cost of Goods S&A Expense Depreciation Expense Taxes (35%) Interest Expense 2,097,246 Net Income 1,373,148 Common Stock Dividend 2,152,416 ????? $???????? $457,792 Balance Sheet End of Last Year Assets Cash $4,661,086 Marketable Securities A/R 2,067,071 10,218,819 Inventory 28,069,312 Prepaid Expenses Plant and Equipment 4,645,131 Liabilities & Equity Total Assets $???????? A/P $21,032,723 Notes Payable Accrued Expense Bonds Payable Common Stock Retained Earnings 3,133,285 Total L&E 4,630,498 29,125,481 CIEP/APIC 11,417,234 23,000,575 4,080,262 ???????? $????????
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