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Genmill Co's income statement and balance sheet are provided below: Gemmill Co's income statement and balance sheet are provided below: Income Statement Balance Sheet Sales
Genmill Co's income statement and balance sheet are provided below:
Gemmill Co's income statement and balance sheet are provided below: Income Statement Balance Sheet Sales $4,600 $4,889 Debt $9,776 Current assets Fixed -assets Costs 3,036 11,971 Equity 7,084 $1,564 Total $16,860 Total $16,860 Taxable income Taxes (24%) Net income 375 $1,189 Assume that debt and equity do not grow proportional to sales but asset and costs do. And the company maintains a constant 40 percent ratio of dividends to net income. Compute the rate of internal growth for Gemmill. Multiple Choice O 4.52% O 4.42% 2.9% 4.32 O 11.19% O
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