Planet Express Corporation plans to retain all its earnings to drive growth. However, the business has been unable to obtain additional financing through loans or other means. How quickly can the business grow? Explain your answer.

Planet Express Corporation Balance Sheet December 31, 2019 Cash $200,000 Accounts payable $400,000 Accounts receivable 900,000 Notes payable 200,000 Inventory 600,000 Current liabilities $600,000 Current assets $1,700,000 Long-term debt 1,400,000 Total liabilities $2,000,000 Tangible net fixed assets $5,300,000 Intangible net fixed assets 500,000 Common stock $1,500,000 Accumulated retained earnings 4,000,000 Total liabilities & Total assets $7,500,000 owners' equity $7,500,000 Income Statement Jan 1 - Dec 31, 2019 Sales $1,000,000 Costs 600,000 Depreciation | 100,000 EBIT $300,000 Interest 40,000 Taxable income $260,000 Taxes (21%) 54,600 Net income $205,400 10