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The Inwood Biological Co. expects sales to be $500,000 next year. Suppose Inwood's profit margin is projected to be 8.0% and the dividend payout ratio

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The Inwood Biological Co. expects sales to be $500,000 next year. Suppose Inwood's profit margin is projected to be 8.0% and the dividend payout ratio is 30%. What is the projected change in retained earnings? $110,000 $40,000 $28,000 $150,000

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