Sales Costs Other expenses Use the information provided below for questions (14) to (17) Below is reported the 2019 Income Statement for Scott, Inc. SCOTT, INC. 2019 Income Statement. $760,000 595,000 31,000 Earnings before interest and taxes Interest expense $ 134,000 27,000 Taxable income $ 107,000 Taxes (22%) 23,540 Net income Dividends $ 25,038 $ 83,460 Additions to retained earnings 58,422 We are told that sales will increase by 30% next year. Derive the Pro-forma Income Statement for Scott, Inc. In doing so, assume that sales, costs, and other expenses are proportional to sales, while the interest expense is not. Also, by assuming that the firm has a constant dividend payout ratio, compute the Pro-forma dividend amounts and the Pro-forma additions to retained earnings. Show all your calculations below. MeeDeal