16. What is the sustainable growth rate for 2015? Narrow Falls Lumber 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT Interest Taxable income Taxes Net income Dividends $848,600 542,800 147,400 $158,400 12,600 $145,800 51,800 $ 94,000 $28,200 Narrow Falls Lumber Balance Sheets as of December 31, 2014 and 2015 Cash Accounts receivable Inventory 2015 2014 $ 32,300 $ 26,900 74,700 72,300 99,500 97,800 2015 2014 $ 78,900 $ 79,200 50,000 40,000 295,600 354,500 Accounts payable Notes payable Long-term debt Common stock and paid-in surplus ($1 par value) Retained earnings Total liabilities & owners' equity Net fixed assets 707,100 705,000 170,000 175,000 319,100 253,300 Total assets $913.600 902,000 $913,600 $902,000 A) 13.97% B) 14.46% C) 15.54% D) 12.63% E) 10.91%