(15pts) Planet Express Corporation plans to retain all its earnings to drive growth. However, the business has been unable to obtain additional financing through loans or other means. How quickly can the business grow? Explain your answer. Planet Express Corporation Balance Sheet December 31, 2019 Cash Accounts receivable Inventory Current assets $200,000 900,000 600,000 $1,700,000 Accounts payable Notes payable Current liabilities Long-term debt Total liabilities $400,000 200,000 $600,000 1,400,000 $2,000,000 Tangible net fixed assets Intangible net fixed assets $5,300,000 500,000 Common stock $1,500,000 Accumulated retained earnings 4,000,000 Total assets $7,500,000 Total liabilities & owners' equity $7.500.000 Income Statement Jan 1 - Dec 31, 2019 Sales Costs Depreciation EBIT Interest Taxable income Taxes (21%) Net income $1,000,000 600,000 100,000 $300,000 40,000 $260,000 54,600 $205,400