Suppose That Wind Em Corp

question 61

Multiple Choice

Suppose that Wind Em Corp. currently has the balance sheet shown as follows, and that sales for the year just ended were $15 million. The firm also has a profit margin of 23 percent, a retention ratio of 40 percent, and expects sales of $20 million next year. If all assets and current liabilities are expected to grow with sales, what is the projected increase in retained earnings?

• A)$1,050,000
• B)$1,240,000
• C)$1,366,957.14
• D)$1,840,000

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