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Approximate Precision Tools generated $800,000 in sales during 2017, and its year-end total assets were $640000 . Also, at year-end 2017, current liabilities were $300,000

Approximate Precision Tools generated $800,000 in sales during 2017, and its year-end total assets were $640000 . Also, at year-end 2017, current liabilities were $300,000 , consisting of $80,000 of notes payable, $120,000 of accounts payable and $100,000 of accruals. Looking ahead to 2018, the company estimates that its assets and spontaneous liabilities must increase at the same rate as sales. Its profit margin will be 5%, and its payout ratio will be 60%. What is the companys self-supporting growth rate and how large a sales increase (in dollars) can the company achieve without having to raise funds externally?

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