Ribbon Industries reported sales of $3 milion and net income of dividend payout ratio of 30%. If sales are ex $400,000 for 2010. The retained earnings balance at the end of 2012 is $7 mition. Ribbon Industries has a pected to increase by 25% next year, what will be the pro cted batance n retained eamn s ng the percent of sales method? ofSelect one: a. $6,720,000 b. $7.280,000 C. $7350,000 d s8,750,000