Fake Stone, Inc. is projecting sales to decrease by 4 percent next year while the profit margin remains constant. The firm wants to increase the dividend payout ratio by 2 percent. What is the projected increase in retained earnings for next year?
A) $1,711.15
B) $1,898.67
C) $1,943.65
D) $1,969.92
E) $2,105.63
Correct Answer:
Verified
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