Question: 4. Problem 17.04 (Pro Forma Income Statement) Austin Grocers recently reported the following 2021 income statement (in millions of dollars): For the coming year, the
4. Problem 17.04 (Pro Forma Income Statement) Austin Grocers recently reported the following 2021 income statement (in millions of dollars): For the coming year, the company is forecasting a 15% increase in sales, and it expects that its year-end operating costs, including depreciation, will equal 65% of sales. Austin's tax rate, interest expense, and dividend payout ratio are alf expected to remain constant. a. What is Austin's projected 2022 net income? Enter your answer in miltions. For example, an answer of $13,000,000 should be entered as 13 . Do not round intermediate calculations. Round your answer to two decimal places. $ million b. What is the expected growth rate in Austin's dividends? Do not round intermediate calculations. Round your answer to two decimal places
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