Continue from previous questions. Consider the following income statement and balance sheet for XC Corporation: Sales Costs Taxable income Taxes (35%) Net income Current assets Fixed assets Total 40000 24000 16000 XC Corporation has a dividend payout ratio 45 %. Answer: 7207.20 5600 10400 20000 66000 86000 Current liabilities Long-term debt Equity Total 14000 28000 44000 86000 A 26% growth rate in sales is projected. Assume that the cost vary with sales and the dividend payout ratio is constant. Calculate the projected additions to retained earnings.