Last year a firm had sales of $400,000, costs of $300,000, and paid out $20,000...
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Accounting
Last year a firm had sales of $400,000, costs of $300,000, and paid out $20,000 in dividends. On the pro forma income statement, sales and costs are projected to be $425,000 and $315,000 respectively. With a constant dividend payout policy, what should additions to retained earnings be on the pro forma income statement? $85,000 $90,000 $22,000 $88,000 $84,000
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