Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $ 47,600 35,600 Taxable income Taxes (24%) $ 12,000 2,880 Net income $ 9,120 Dividends Addition to retained earnings $2,000 7,120 The projected sales growth rate is 20 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.) HEIR JORDAN CORPORATION Pro Forma Income Statement Sales Costs Taxable income Taxes Net income