Austin Grocers recently reported the following 2016 income statement (in millions of dollars): For the...
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Austin Grocers recently reported the following 2016 income statement (in millions of dollars): For the coming year, the company is forecasting a 25% increase in sales, and it expects that its year-end operating costs, including depreciation, will equal 60% of sales. Austin's tax rate, interest expense, and dividend payout ratio are all expected to remain constant. a. What is Austin's projected 2017 net income? Enter your answer in millions. For example an answer of $13,000,000 should be entered as 13 . Round your answer to two decimal places. 4 milion b. What is the expected growth rate in Austin's dividends? Do not round your intermediate calculations. Round your answer to two decimal olaces. of
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