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C. CALCULATION SECTION: Whep your calculations are chomen and they are completed correctly. 32. 36. Premilum Foody 2022 income statement is shown on tho attuchment. "Notes Payablo" of 52,500 the following projoctions and asrumptions for 2023 : 1) 2023 maler are projocted to increnie by 10% over their 2022 level. 2) In 2023, the company plans to pay out 50 percent of its "Net Income" as divideadr; the other 50 percent of "Net lacome" will bo added to "Retained Banings," as in 2022. 3) An interest rate of 5 pereent applies in 2023 to the debt balance ("Notes Payable" at the beginning of the year). (4) An income tax nte of 22% applies in 2023 , as in 2022