Continue from previous questions. Consider the following income statement and balance sheet for XC Corporation: Sales 40000 Costs 24000 Taxable income 16000 Taxes (35%) 5600 Net income 10400 XC Corporation has a dividend payout ratio 52 %. Current assets 20000 Current liabilities 14000 Fixed assets 66000 Long-term debt 28000 44000 Total Equity Total 86000 86000 A 16 % 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. Type here to search