Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION
Income Statement
Sales		$ 47,200
Costs		35,200
Taxable income		$ 12,000
Taxes (23%)		2,760
Net income		$ 9,240
Dividends	$ 1,700
Addition to retained earnings	7,540

The projected sales growth rate is 17 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

HEIR JORDAN CORPORATION
Pro Forma Income Statement
Sales
Costs
Taxable income
Taxes
Net income