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Southeast Airline had retained earnings of $2 million, sales of $4 million, and net income of $0.5 million this year. It also paid dividends of
Southeast Airline had retained earnings of $2 million, sales of $4 million, and net income of $0.5 million this year. It also paid dividends of $0.2 million this year. If the sales are projected to increase by 10% next year, what are the projected retained earnings for next year? Assume that all ratios will stay constant.
Answer options
2.30 mill
2.33 mill
2.22 mill
2.20 mill
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