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Business, 22.09.2020 14:01 baby0905rodriguez

Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement

Sales $47,600
Costs 35,600
Taxable income $12,000
Taxes (30%) 3,600
Net income $8,400
Dividends $2,000
Addition to retained earnings 6,400

The projected sales growth rate is 18 percent.

Required:
Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant.

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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION In...
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