Question: 4. Problem 17.04 (Pro Forma Income Statement) Austin Grocers recently reported the following 2021 income statement (in milions af dollars): For the coming year, the
4. Problem 17.04 (Pro Forma Income Statement) Austin Grocers recently reported the following 2021 income statement (in milions af dollars): For the coming year, the company is forecasting a 20% increase in sales, and it expects that its year-end operating costs, including depreciation, will equal 75\% of sales. Austin's tax rate, interest expense, and dividend payout ratio are all expected to remain constant. a. What is Austin's projected 2022 net income? Enter your answer in millions, for example, an awwer of s13,000,000 should be entered as 13 . De not reund intermediate calculations. Round your answer to two decimal places. 5 milion 6. What is the expected orewth rate in Austin's dividends? Do not round intermediate calculations. Round your answer to two decimal piaces
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