Question

Baked at Home Cookies expects sales of $672,500 next year. The profit margin is 4.6 percent and the firm has a dividend payout ratio of 15 percent. What is the projected increase in retained earnings?

A) $26,294.75

B) $17,500.50

C) $4,640.25

D) $20,640.25

E) $30,935.00

Answer

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