Consider the following income statement for Jordan Corporation: Jordan Corporation Income Statement Sales ₱ 38,000 Costs 18,400 Taxable Income ₱19,600 Taxes (34%) 6,664 Net Income ₱12,936 Dividends...

Consider the following income statement for Jordan Corporation:
Jordan Corporation
Income Statement

Sales
₱ 38,000

Costs
18,400

Taxable Income
₱19,600

Taxes (34%)
6,664

Net Income
₱12,936

Dividends
₱5,200

Addition to Retained Earnings
7,736

A 25% growth rate in sales is projected. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. What is the projected addition to retained earnings?