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In 2021 the level of Sales was $4,000 while Net income was $150. Sales in 2022 are expected to grow at a rate of 25%,

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In 2021 the level of Sales was $4,000 while Net income was $150. Sales in 2022 are expected to grow at a rate of 25%, the net prost margin is expected to be the same as 2021, and the dividend payout ratio is expected to be 20%. If the 2021 Retained Eamings balance was $1,000, the 2022 Retained Earnings balance is expected to be

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