Sales for 2008 are projected to double. No new equipment is expected to be purchased or sold in 2008. Depreciation expense along with preferred stock and common stock will remain unchanged in 2008. Current assets, accounts payable, accrued expenses, COGS, and selling expenses vary at a constant percentage of sales. Notes payable, long-term debt, preferred stock, and common stock are scheduled to stay the same. Retained earnings for the end of year 2008 are projected to be: $7, 400 $26, 400 $15, 730 $4,000