Please show all steps, no matter how small. Show every single step and explain how you got each part in detail.

vdeid payout latro. 19.7 Addition to retained earnings: Northwood, Inc., has rev- enue of $455,316, costs of $316,487, and a tax rate of 31 percent. If the firm pays out 45 percent of its earnings as dividends every year, how much earnings are retained and what is the firm's reten- tion ratio