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Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 Sales Cost $ 6,600 5,500 Net income $ 1,100 Assets BALANCE SHEET,

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Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 Sales Cost $ 6,600 5,500 Net income $ 1,100 Assets BALANCE SHEET, YEAR-END 2018 2019 $2,500 $3,000 Total $2,500 Debt Equity 1,647 2,000 $3,000 Total $2,500 $3,000 2018 $ 853 2019 $1,000 Assume the payout ratio is 50%. a. Calculate the internal growth rate where no external debt or equity is to be issued. (Do not round intermediate calculations. Enter your answer as a whole percent.) Internal growth rate : % b. Calculate the sustainable growth rate where the firm maintains a fixed debt ratio but issues no equity. (Do not round intermediate calculations. Enter your answer as a whole percent.) Sustainable growth rate %

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