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What is the projected addition to retained earnings

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Consider the following income statement for the Heir Jordan Corporation:

Income StatementSales$45,712Costs$36,866

Taxable Income?

Taxes (35%)?

Net Income?

Dividends$1,825

The projected sales growth rate is 12 percent.

What is the projected addition to retained earnings (in $)? Assume costs vary with sales and the dividend payout ratio is constant. (round 2 decimal places)

Reference no: EM132641575

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