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Consider the following income statement for the Heir Jordan Corporation: Income Statement Sales Costs Taxable Income Taxes (35%) Net Income $49251 $36378 Dividends $1453 The
Consider the following income statement for the Heir Jordan Corporation: Income Statement Sales Costs Taxable Income Taxes (35%) Net Income $49251 $36378 Dividends $1453 The projected sales growth rate is 12 percent. What is the projected addition to retained earnings (in $)? Assume costs vary with sales and the dividend payout ratio is constant (Omit the "$" sign and commas in your response. Enter your answer rounded to 2 decimal places. For example, $1,200.456 should be entered as 1200.46.)
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