What will be the firms retained earnings next year? Please use excel and show formulas.

(The following information is related to the next four questions.) The most recent financial statements for Fleury Inc., follow. Sales for next year are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets and accounts payable increase spontaneously with sales. FLEURY, INC Income Statement of Last Ycar Sales Casts Other expenses 759.000 594,000 15.000 $ Earnings before interest and taxes Interest paid 150,000 16,000 s Taxable income Taxes (30%) 134,000 40,200 Net income $ 93,800 Dividends Addition to retained earnings 528,140 65.660 Assets e Lisbilities and Owners' Equity FLEURY, INC. Balance Sheet of Last Year Current liabilities 21.840 Accounts payable 34,160 Notes payable Current assets Cash Accounts receivable 36,000 15,200 Inventory 71,120 Total S 71,200 5 s 142.000 Total Fixed assets Net plant and equipment 3 127.120 Long-term deht Owners' cquity Common stock and paid- 363.000 in surplus Retainod carings S 128.000 148.920 Total S 276,920 Total assets $ 490,120 Total liabilities and owners' equity $ 490,120 22. What will be the firm's retained earnings next year