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Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected nancial data for the company
Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected nancial data for the company for the period 20122016.
2012 | 2013 | 2014 | 2015 | 2016 | |
---|---|---|---|---|---|
Profit margin (%) | 0.2 | 3.0 | 4.5 | 8.5 | 16.5 |
Retention ratio (%) | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
Asset turnover (X) | 0.35 | 0.40 | 0.45 | 0.50 | 0.55 |
Financial leverage (X) | 1.00 | 1.04 | 1.07 | 1.12 | 1.20 |
Growth rate in sales (%) | 16.5 | 16.0 | 13.5 | 30.0 | 21.5 |
Source: Data from Nobility Homes 2012 to 2016 annual reports
Calculate Nobility Homes' annual sustainable growth rate for the years 2012 through 2016.
Note: Round your answers to 1 decimal place.
Year Sustainable Growth Rate
2012 ? %
2013 ? %
2014 ? %
2015 ? %
2016 ? %
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