You have the following information from 2020 and are looking to forecast 2021. In 2021 you expect sales to be equal to $11 million. Assume the payout ratio is 40%. Using the "Percent-of-Sales" method, what amount of Retained Earnings will the company generate in 20217 Account 2020 Information Costs (excluding Depreciation) 74% of Sales Depreciation 6% of Sales Cost of Debt 7% Debt $20 million Taxes 1.5% of Sales Tax rate 125% $420,000 $350,000 0 $300,000 O $240,000