Earnings available to be reinvested

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Reference no: EM131721459

This year CVS reported net income of $1,119 million and paid out dividends of $538 million. If net income is projected to increase 3% next year, what is the projected amount of earnings available to be reinvested next year? That is, what is the expected increase in retained earnings? Assume the dividend payout ratio is expected to remain constant.

Reference no: EM131721459

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