The most recent financial statements for Moose Tours, Inc., appear below. Sales for grow by...

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The most recent financial statements for Moose Tours, Inc., appear below. Sales for grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales 2016 are projected to MOOSE TOURS, INC 2015 Income Statement Sales Costs Other expenses $754,000 589,000 10,000 Earnings before interest and taxes Interest expense $155,000 11,000 Taxable income Taxes (30%) $144,000 43,200 Net income $100,800 Dividends Addition to retained earnings $20,160 80,640

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