HEIR JORDAN CORPORATION Income Statement Sales $ 48,200 Costs 34,000 Taxable income $ 14,200 Taxes (35%) 4,970 Net income $ 9,230 Dividends $ 2,600 Addition to retained earnings 6,630
The projected sales growth rate is 10 percent.
Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Input all amounts as positive values. Do not round intermediate calculations.)
sales=
costs=
taxable income=
taxes=
net income=
What is the projected addition to retained earnings? (Do not round intermediate calculations.)