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Austin Grocers recently reported the following 2 0 2 1 income statement ( in millions of dollars ) : Sales $ 7 0 0 Operating
Austin Grocers recently reported the following income statement in millions of dollars:
Sales $
Operating costs including depreciation
EBIT $
Interest
EBT $
Taxes
Net income $
Dividends $
Addition to retained earnings $
For the coming year, the company is forecasting a increase in sales, and it expects that its yearend operating costs, including depreciation, will equal of sales. Austin's tax rate, interest expense, and dividend payout ratio are all expected to remain constant.
What is Austin's projected net income? Enter your answer in millions. For example, an answer of $ should be entered as Do not round intermediate calculations. Round your answer to two decimal places.
$ million
What is the expected growth rate in Austin's dividends? Do not round intermediate calculations. Round your answer to two decimal places.
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