INCOME STATEMENT, 2019
Sales	$	4,500
Cost		3,500
Net income	$	1,000

BALANCE SHEET, YEAR-END
		2018				2019						2018				2019
Assets		$	6,500			$	7,000			Debt		$	833			$	1,000
										Equity			5,667				6,000
Total		$	6,500			$	7,000			Total		$	6,500			$	7,000

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.)

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.)