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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 43,800 Costs 34,800 Taxable income $ 9,000 Taxes

Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 43,800 Costs 34,800 Taxable income $ 9,000 Taxes (22%) 1,980 Net income $ 7,020 Dividends $ 3,300 Addition to retained earnings 3,720 The projected sales growth rate is 18 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Input all answers as positive values. Do not round intermediate calculations.) What is the projected addition to retained earnings? (Do not round intermediate calculations.)

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