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What amount is expected to be added to retained earnings

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Problem 1: A firm has net income of $32,000 on sales of $190,000. Sales are expected to increase by 6% next year and the dividend payout ratio is 35%. The firm uses the percentage of sales approach when compiling pro forma statements. What amount is expected to be added to retained earnings next year?

Multiple Choice

Option 1: $15,686

Option 2: $17,550

Option 3: $14,300

Option 5: $15,400

Option 5: $22,048

Reference no: EM132668623

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