A.

The most recent financial statements for Bello Co. are shown here:

Income Statement				Balance Sheet
Sales	$	20,100		Current assets	$	11,940		Debt	$	16,420
Costs		13,800		Fixed assets		31,500		Equity		27,020
Taxable income	$	6,300		Total	$	43,440		Total	$	43,440
Taxes (21%)		1,323
Net income	$	4,977

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend payout ratio.

What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.)

B.

The most recent financial statements for Bello Co. are shown here:

Income Statement				Balance Sheet
Sales	$	19,200		Current assets	$	11,760		Debt	$	15,880
Costs		13,050		Fixed assets		27,450		Equity		23,330
Taxable income	$	6,150		Total	$	39,210		Total	$	39,210
Taxes (24%)		1,476
Net income	$	4,674

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend payout ratio.

What is the sustainable growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)