? Calculating macimum sales growth - Excel REVIEW Sign In VIEW FORMULAS HOME E INSERT DATA PAGE LAYOUT i X Calibri 11 - A A - Cells Editing te BIU- & A % Alignment Number Conditional Format as Cell Formatting Table Styles Styles pboard Font 1 E F G H I AB The most recent financial statements for Alexander Co. are shown below. Assets and costs are proportional to sales. The company maintains a constant 30 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum increase in sales that can be sustained assuming no new equity is issued? 4 5 6 7 Sales Costs Taxable income Taxes Net income Current assets $ 19,000 Debt Fixed assets 72,000 Equity Total $ 91,000 Total 8 53,500 41,800 11,700 3,978 7,722 $ 43,000 48,000 $ 91,000 $ 9 10 $ 11 12 13 Payout ratio Tax rate 30% 21% 15 16 17 Complete the following analysis. Do not hard code values in your calculations. FE Calibri 11 X De Cells Editing BIU- HL- - A A % D-A - Alignment Number Conditional Format as Cell Formatting" Table Styles Styles fo rd Font v B E F Fixed assets Total D 41,800 11,700 3,978 7,722 G H 72,000 Equity $ 91,000 Total I 48 $ 91 $ Costs Taxable income Taxes Net income S Payout ratio Tax rate 30% 21% Complete the following analysis. Do not hard code values in your calculations. Return on equity Retention ratio Sustainable growth rate Maximum increase in sales