Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement $45,600 35,200 Sales Costs Taxable income Taxes (22%) Net income $10,400 2,288 8,112 Dividends Addition to retained $2,200 5,912 earnings The projected sales growth rate is 18 percent. Prepare a pro forma income statement assuming costs vary with sales and payout ratio is constant. (Input all answers as positive values. Do intermediate calculations.) HEIR JORDAN CORPORATION Pro Forma Income Statement Sales Costs Taxable income Taxes Net income 53,808 41536 Prev 1 of 8E Next