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Consider the following income statement for the Heir Jordan Corporation: A 20 percent growth rate in sales is projected. Prepare a pro forma income statement
Consider the following income statement for the Heir Jordan Corporation: A 20 percent growth rate in sales is projected. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. What is the projected addition to retained earnings? From the income statement provided in Question 3 and the balance sheet provided below, prepare a pro forma income statement and balance sheet showing EFN, assuming a 15 percent increase in sales and no new external debt or equity financing
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