Question: Kenney Corporation recently reported the following income statement for 2013 (numbers are in millions of dollars): Sales $7,000 Total operating costs 3,000 EBIT $4,000 Interest

Kenney Corporation recently reported the following income statement for 2013 (numbers are in millions of dollars):

Sales

$7,000

Total operating costs

3,000

EBIT

$4,000

Interest

200

Earnings before tax (EBT)

$3,800

Taxes (40%)

1,520

Net income available to common shareholders

$2,280

The company forecasts that its sales will increase by 10 percent in 2014 and its operating costs will increase in proportion to sales. The company

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