You have recently been hired as a Finance Manager by EishQueen Corp, a major multination corporation, after graduating from Yorkville University with a BBA. You got this job as a result of being a very ethical student who never cheated on any mid term exam. You find it shameful when students cheat, as it devalues the prestigious BBA degree from the school. The following is the most recent Statement of Comprehensive Income for FishQueen Corp. Sales Cost of Goods Taxable Income Taxes Net Income Dividends $2,300 Retained Earnings 7.905 $47,000 31,300 15,700 5,495 $10,205 The CFO asks you to put together a pro forma statement of comprehensive income for next year projecting a 25% increase in sales. The CFO instructs you to assume that costs will vary with sales and that the dividend payout ratio will remain constant, with the tax rate increasing to forty percent next year. (i) (ii) What is the projected addition to retained earnings? Show all your work by completing a proforma Statement of Comprehensive Income, in good form with proper dates and titles. If the CFO wants to have $8,000 in addition to Retained Earnings next year, what should the Dividend Payout Ratio be?