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.