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Help please! Problem 4-8 Sales and Growth [LO2] The most recent financial statements for Alexander Co. are shown here: Income Statement Current Sales $ 18,700

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Problem 4-8 Sales and Growth [LO2] The most recent financial statements for Alexander Co. are shown here: Income Statement Current Sales $ 18,700 Balance Sheet Long-term assets debt Fixed assets 69,050 Equity $45,050 36,250 $ 37,770 Costs 49,980 Taxable income $ 8,800 Total $ 87,750 Total $ 87,750 Taxes (25%) 2,200 Net income $ 6,600 Assets and costs are proportional to sales. The company maintains a constant 35 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum dollar increase in sales that can be sustained assuming no new equity is issued? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Maximum dollar increase

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