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7600 6,765 180 655 Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net Income Dividends 20

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7600 6,765 180 655 Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net Income Dividends 20 635 221 414 186 Balance Sheet Cash 2.200 Accounts payable 1650 Accounts rec 850 Long-term debt 270 Inventory 2.300 Common stock 2.500 Total 5.350 Retained earnings 4170 Net foxed assets 3.240 Total assets 8.59.0 Total liabilities & equity 8.590 If the Nitro Top Company doesn't want to incur any additional external financing what is the firm's maximum rate of growth? Assume the dividend payout ratio is constant

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