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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $42,000 32,800 Taxable income Taxes (24%) $9,200 2,208

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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $42,000 32,800 Taxable income Taxes (24%) $9,200 2,208 Net income $6,992 $1,800 Dividends Addition to retained 5,192 earnings 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.)

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