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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement   Sales $ 43,200   Costs 34,000   Taxable income $ 9,200   Taxes (24%) 2,208   Net income $ 6,992      Dividends $ 2,700      Addition...

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Finance

Consider the following income statement for the Heir JordanCorporation:

HEIR JORDAN CORPORATION
Income Statement
  Sales$43,200
  Costs34,000
  Taxable income$9,200
  Taxes (24%)2,208
  Net income$6,992
     Dividends$2,700
     Addition to retainedearnings4,292

The projected sales growth rate is 13 percent.

Prepare a pro forma income statement assuming costs vary withsales and the dividend payout ratio is constant. (Input allanswers as positive values. Do not round intermediatecalculations.)

What is the projected addition to retained earnings? (Donot round intermediate calculations.)

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Consider the following income statement for the Heir JordanCorporation:HEIR JORDAN CORPORATIONIncome Statement  Sales$43,200  Costs34,000  Taxable income$9,200  Taxes (24%)2,208  Net income$6,992     Dividends$2,700     Addition to retainedearnings4,292The projected sales growth rate is 13 percent.Prepare a pro forma income statement assuming costs vary withsales and the dividend payout ratio is constant. (Input allanswers as positive values. Do not round intermediatecalculations.)What is the projected addition to retained earnings? (Donot round intermediate calculations.)

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