3. Chapter 3 Question 5 - Sales and Growth (1 Point) The most recent financial statements for Cheung Lee Co. are shown here: Income Statement Balance Sheet Sales $54,000 Current Assets $ 31,000 Long-term debt $ 68,000 Costs 39,300 Fixed Assets 1 18,000 Equity 81,000 Taxable Income $14,700 Taxes (34%) 4,998 Net Income $9,702 Total $149,000 Total $149,000 Assets and costs are proportional to sales. The company maintains a constant 30% dividend payout ratio and a constant debt-equity ratio. What is the maximum increase in sales (in dollar amount) that can be sustained assuming no new equity is issued? Leave your final answer in 2 decimal places