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Question 8 (1 point) These are the simplified financial statements for Doctorow Inc. Income statement Current Projected Sales na 20,000 Costs na 10,000 Profit before
Question 8 (1 point)
| These are the simplified financial statements for Doctorow Inc. |
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| Income statement | Current | Projected |
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| Sales | na | 20,000 |
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| Costs | na | 10,000 |
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| Profit before tax | na | 10,000 |
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| Taxes | na | 4000 |
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| Net income | na | 6000 |
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| Dividends | na | 800 |
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| Balance sheets | Current | Projected |
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| Current | Projected |
| Current assets | 1,000 | 1,215 |
| Current liabilities | 700 | 800 |
| Net fixed assets | 9,800 | 10,050 |
| Long-term debt | 4000 |
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| Common stock | 3000 |
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| Retained earnings | 1,400 |
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What is Doctorow's projected total retained earnings?
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