The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INCORPORATED 2021 Income Statement Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes (25%) Net income Dividends Addition to retained earnings $763,000 619.000 29,000 $115,000 14.000 $101,000 25.250 $75,750 $26,240 49.510 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash Accounts receivable $25,240 34.660 Accounts payable 561,400 Notes payable 17.600 Inventory 71,420 Total $79.000 Total $131,320 Long-term debt $111,000 Owners' equity Fixed assets Common stock and paid-in surplus $110,000 Net plant and equipment $220,000 Retained earnings 51.3201 Total $161.320 Total assets $361.320 Total abilities and owners' equity $351,320 Anthe following questions (038-52), Unanswered Question 38 What is the projected net income? Incorrect Question 39 What is the projected dividend? (Hint: must round to the nearest dollar.) Incorrect Question 40 What is the projected addition to retained earnings? (Round to the nearest dollar.) 0/2p 0/2 pts 0/2 pts Incorrect Question 41 The new retained earnings on the pro forma balance sheet will be: (round to the nearest dollar) Incorrect Question 42 What is the projected cash? Incorrect Question 43 What is the projected accounts receivable? 0/1.5 pts 0/1.5 pts Incorrect Question 44 What is the projected inventory? 0 Incorrect Question 45 What is the projected fixed assets? Incorrect Question 46 What is the projected total assets