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QUESTION 9 2 poir Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales 47.000 Costs 31,300 Taxable income

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QUESTION 9 2 poir Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales 47.000 Costs 31,300 Taxable income 15.700 Taxes (35%) 5,495 Net income 10.205 The firm maintains a constant payout ratio of 25 percent. If a 20 percent growth rate in sales is projected, what is the projected addition to retained earnings? Calculate answer to two decimal places

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