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PRO FORMA INCOME STATEMENT Austin Grocers recently reported the following 2018 income statement (in millions of dollars):Sales $700Operating costs including depreciation 500EBIT $200Interest 40EBT $160Taxes

PRO FORMA INCOME STATEMENT Austin Grocers recently reported the following 2018 income statement (in millions of dollars):Sales $700Operating costs including depreciation 500EBIT $200Interest 40EBT $160Taxes (40%) 64Net income $ 96Dividends $ 32Addition to retained earnings $ 64For the coming year, the company is forecasting a 25% increase in sales, and it expects that its year-end operating costs, including depreciation, will equal 70% of sales. Austins tax rate, interest expense, and dividend payout ratio are all expected to remain constant.a. What is Austins projected 2019 net income?b. What is the expected growth rate in Austins dividends?

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