Austin Grocers recently reported the following 2019 income statement (in millions of dollars): Sales $700 Operating costs including depreciation 500 EBIT $200 Interest 40 EBT $160 Taxes...

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Austin Grocers recently reported the following 2019 incomestatement (in millions of dollars):
Sales $700
Operating costs including depreciation 500
EBIT $200
Interest 40
EBT $160
Taxes (25%) 40
Net income $120
Dividends $40
Addition to retained earnings $80
For the coming year, the company is forecasting a 30% increasein 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 all expected toremain constant.
What is Austin's projected 2020 net income? Enter your answerin millions. For example, an answer of $13,000,000 should beentered as 13. Round your answer to two decimal places.
$ million

What is the expected growth rate in Austin's dividends? Do notround intermediate calculations. Round your answer to two decimalplaces.
%

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Austin Grocers recently reported the following 2019 incomestatement (in millions of dollars):Sales$700Operating costs including depreciation500EBIT$200Interest40EBT$160Taxes (25%)40Net income$120Dividends$40Addition to retained earnings$80For the coming year, the company is forecasting a 30% increasein 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 all expected toremain constant.What is Austin's projected 2020 net income? Enter your answerin millions. For example, an answer of $13,000,000 should beentered as 13. Round your answer to two decimal places.$ millionWhat is the expected growth rate in Austin's dividends? Do notround intermediate calculations. Round your answer to two decimalplaces. %

	Sales	$700
	Operating costs including depreciation	500
	EBIT	$200
	Interest	40
	EBT	$160
	Taxes (25%)	40
	Net income	$120
	Dividends	$40
	Addition to retained earnings	$80