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HELP ASAP Maggie's Muffins Bakery generated $4 million in sales during 2018 , and its year-end total assets were $2 million. Also, at year-end 2018
HELP ASAP
Maggie's Muffins Bakery generated $4 million in sales during 2018 , and its year-end total assets were $2 million. Also, at year-end 2018 , current llabuites were $1 milion, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2019 , the company estimates. that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 5%, and its payout ratio will be 40%. How large a sales increase can the company achieve without having to raise funds externally-that is, what is its self-supporting growth rate? Do not round intermediate calculations. Round the monetary value to the nearest dollar and percentage value to the nearest whole number. Sales can increase by $ , that is by % Step by Step Solution
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