The following is the most recent Statement of Comprehensive Income for FishKing Corp.<\/p>
<\/p>
Sales<\/p>
$47,000<\/p>
Cost of Goods<\/p>
31,300<\/p>
Taxable Income<\/p>
15,700<\/p>
Taxes<\/p>
5,495<\/p>
Net Income<\/p>
$10,205<\/strong><\/p> Dividends<\/p> $2,500<\/p> Retained Earnings<\/p> 7,705<\/p> <\/p> The CFO asks you to put together a pro forma statement of comprehensive income for next year projecting a 20% increase in sales.The CFO instructs you to assume that costs will vary with sales and that the dividend payout ratio will remain constant.<\/p> (i)What is the projected addition to retained earnings? Show all your work by completing a proforma Statement of Comprehensive Income.<\/p> (ii)If the CFO wants to have $11,000 in addition to Retained Earnings next year, what should the Dividend Payout Ratio be?<\/p>",
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"related_book": {
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"edition": "2nd Canadian Edition",
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"cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/635f99b5717e0_1157.jpg",
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"edition": "1st\u00a0Edition"
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"question_posted": "2024-06-29 01:30:39",
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