intermediate calculations.) HEIR JORDAN CORPORATION Pro Forma Income Statement es Sales Costs Taxable income Taxes Net income $ What is the projected addition to retained earnings? (Do not round intermediate calculations.) Addition to retained earnings IL 4 Problem 4-9 Calculating Retained Earnings from Pro Forma Income (LO1] Consider the following income statement for the Heir Jordan Corporation: 10 points HEIR JORDAN CORPORATION Income Statement eBook Sales Costs $48,800 34,800 Print Taxable income Taxes (30%) $ 14,000 4,200 References Net income $ 9,800 Dividends Addition to retained earnings $3,200 6,600 The projected sales growth rate is 18 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Input all amounts as positive values. Do not round intermediate calculations.) UCID IORDANODDODATION