O'Brien Corporation had the balance sheet shown in Table 5E at the end of last year. The company had net income of $150,000 on sales of $3,000,000, and paid $50,000 in dividends last year. O'Brien is at full capacity and considers all its assets, accounts payable, and accrued liabilities as spontaneous. Assume the net profit margin and dividend payout ratio remain the same this year, and that sales are projected to be $3,300,000. D Reference: Ref 5-1 Using the percentage-of-sales method, what is the forecasted end-of-this- year balance in the retained earnings account (in thousands of dollars)? $600. O $110.
O $765.
O $710.