Wintergreen, Inc. Income Statement for the Present Year Net sales Costs Taxable income Taxes Net Income $14,650 $12,103 $2,547 $866 $1,681 Cash Accounts receivable Inventory Total Net fixed assets Wintergreen, Inc. Balance Sheet for the Present Year $525 Accounts payable $3,135 Notes payable $976 Total $4,636 Long-term debt $23,770 Common stock Retained earnings $28,406 Total liabilities and equity $1.963 $2,618 $4,581 $6,600 $7,500 $9,725 $28,406 Total assets Assets, accounts payable and costs are proportional to sales. Debt and equity are not Sales of Wintergreen, Inc. are expected to increase by 13% next year. The dividend payout ratio is 35%. The company is currently operating at 93% of capacity. What is the projected retained earnings balance at the end of next year