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Elliot's garage currently has sales of $886,810, a tax rate of 32%, a dividend payout ratio of 40%, and expenses excluding taxes of $753,690. What
Elliot's garage currently has sales of $886,810, a tax rate of 32%, a dividend payout ratio of 40%, and expenses excluding taxes of $753,690. What is the anticipated increase to retained earnings if sales are expected to increase by 8.50%, and expenses excl. taxes are proportional to sales? $57,456 $58,930 $60,403 $61,876 $63,349
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