Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs Taxable income Taxes (22%) Net income Dividends Addition to retained earnings HEIR JORDAN CORPORATION Pro Forma Income Statement $3,300 3,720 Sales Costs Taxable income Taxes Net income $43,800 34,800 The projected sales growth rate is 18 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.) $9,000 1,980 $7,020

Consider the following income statement for the Heir Jordan Corporation: The projected sales growth rate is 18 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.)