financial accounting

3. The most recent financial statements for Alex Co. are shown below. Assets and costs are proportional to sales. The company maintains a constant 30 percent dividend payout ratio and issued debt to maintain a constant debt-equity ratio. What is the maximum increase in sales that can be sustained assuming no new equity is issued? Income Statement Sales 53500 Costs 41800 Taxable Income 11700 Taxes 3978 Net Income 7722 Payout ratio Tax Rate 30% 21% Balance Sheet Current Assets Fixed Assets Total 19000 72000 91000 Debt Equity Total 43000 48000 91000