Use the financials below. If sales are projected to increase by 3 percent next year while holding profit margin and dividend payout ratio constant, what is the projected addition to retained earnings for next year (2020)?=

The Incredible Eatery ($ thousands) Income Statement for the year ending Dec. 31, 2019 Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest expense Earnings before taxes Tax Net income Dividends 17,300 10,600 3,250 3,450 680 2,770 693 2,078 519 Balance Sheet as of Dec 31, 2019 Cash Accounts receivable Inventory Total current assets 350 940 2,360 3,650 Accounts payable Long-term debt Common stock Retained earnings 1,920 3,500 7,500 1,580 Net fixed assets Total assets 10.850 14,500 Total liabilities & equity 14.500