Using the percentage of sales method, forecasted retained earnings balance is equal to
A) the ratio of retained earnings to sales for the current year multiplied by projected sales for
next year, minus dividends paid.
B) the retained earnings balance for the current year as no changes are made to this financing
account when using the percent of sales method.
C) prior year retained earnings plus projected net income less projected dividends.
D) the ratio of retained earnings to sales for the current year multiplied by projected sales for
next year.
C
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