Consider again Big One-Volts 2020 financial statements (where the dividend payout ratio is 30%)

a. Calculate Big One-Volts IGR

BIG ONE-VOLT CORPORATION 1 STATEMENT OF COMPREHENSIVE INCOME 2019 2020 Revenues 6000 9000 - COGS 2 (1800) (2700) Gross Profit 4200 6300 - Operating Expenses (1680) (2520) EBIT 2520 3780 - Interest 4 (325) (1760) EBT 2195 2020 - Taxes 5 549 505 E (i.e., earnings, net income, profit) 1646 1515 2019 2020 2980 2230 22000 39550 24980 41780 STATEMENT OF FINANCIAL POSITION Assets Current Non-current Total Assets Liabilities Current Non-current Total Liabilities Equity Shareholder capitalization Retained Earnings 8 Total Equity 1750 1750 1500 15850 3250 17600 20578 23120 1152 1060 21730 24180 NOTES all numbers are in thousands of dollars 2 30% of sales 3 40% of sales + interest on total debt is 10% per year 5 total corporate taxes are 25% Current assets for 2020 include: cash=180, receivables=50, and inventory=2000 Comprised exclusively of PPE net of depreciation the payout ratio is 30%