Total sales in 2017 were $100,000 resulting in a net income of $10,000. Sales are expected...

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Total sales in 2017 were $100,000 resulting in a net income of $10,000. Sales are expected to grow by 20% in 2018; all income statement items move spontaneously with sales. If the dividend payout ratio is 10% of net income, calculate common equity for 2018. End of Year 2017 Total Assets Accounts Payable Notes Payable Long Term Debt Common Stock $75,000 $ 3,000 5,000 20,000 25,000 Retained Earnings 22,000 Total Liabilities/Equity $75,000 Total sales in 2017 were $100,000 resulting in a net income of $10,000. Sales are expected to grow by 20% in 2018; all income statement items move spontaneously with sales. If the dividend payout ratio is 10% of net income, calculate common equity for 2018. End of Year 2017 Total Assets Accounts Payable Notes Payable Long Term Debt Common Stock $75,000 $ 3,000 5,000 20,000 25,000 Retained Earnings 22,000 Total Liabilities/Equity $75,000