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Problem 4-9 Calculating Retained Earnings from Pro Forma Income [LO1] Consider the following income statement for the Heir Jordan Corporation: The projected sales growth rate
Problem 4-9 Calculating Retained Earnings from Pro Forma Income [LO1] Consider the following income statement for the Heir Jordan Corporation: The projected sales growth rate is 16 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) The projected sales growth rate is 16 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) What is the projected addition to retained earnings? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
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