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 4096. Using the "Percent-of-Sales" method, what amount of Retained Earnings will the company generate in 2021? Account 2020 Information Costs (excluding Depreciation) 7496 of Sales Depreciation 696 of Sales Cost of Debt 796 Debt $20 million Taxes 1.596 of Sales Tax rate 2596 $240,000