A company reported its sales for year 2019 to be sh 40,000 and these sales are expected to grow by 12% pa for each of the 3 years 2020, 2021 and 2022. Dividend payout ratio of 30% is to be applied and the profit after tax has been set at 15% of sales. Calculate the expected retained earnings for the year 2022.

Answer rating: 100% (QA)

To calculate the expected retained earnings for the year 2022 we need to find the sales for each yea... View the full answer