According to the sustainable growth model

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Reference no: EM132050190

Last year, Grow Now reported sales of $8 million, net income of $50,000, total assets of $4 million, and total equity of $2 million. If the firm wants to increase sales next year by 10.14 percent and has a dividend payout ratio of 30 percent of earnings, Grow Now's contribution to retained earnings next year will be __________ according to the sustainable growth model.?

Reference no: EM132050190

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