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Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement $46,500 36,100 Sales Costs Taxable Income Taxes (23%) 10,400 2,392
Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement $46,500 36,100 Sales Costs Taxable Income Taxes (23%) 10,400 2,392 8,008 Net income $ 3.100 DIvidends Addition to retained 4,908 earnings The projected sales growth rate is 16 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio Is constant (Input all answers as posltlve values. Do not round Intermedlate calculations.) HEIR JORDAN CORPORATION Pro Forma Income Statement Sales Costs Taxable income Taxes Net income What Is the projected addition to retalned earnings? (Do not round Intermedlate Caiculatione
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