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please explain the steps for 1 if you cant do all Table 1: The most recent financial statements for Heartland, Inc., are shown here: Heartland,

please explain the steps for 1 if you cant do all image text in transcribed
Table 1: The most recent financial statements for Heartland, Inc., are shown here: Heartland, Inc. Income Statement Other Inputs Sales 30,000 Tax rate 21% Costs 26,000 Payout Ratio 50% Taxable income 4,000 Growth rate 14% Taxes (21%) 840 Net income 3,160 Heartland, Inc. Balance Sheet Assets Liabilities & Equity Current Assets 15,500Current Liabilities 5,600 Fixed assets 7,500 Long-term debt 8,000 Shareholder Equity 9,400 Total Assets 23,000 Total L&E 23,000 Assets, costs, and current liabilities are proportional to sales. Long- term debt and equity are NOT proportional to sales. The company maintains a constant 50 percent dividend payout ratio. As with every other firm in its industry, the next year's sales are projected to increase by 15 percent. Questions: 1. What is the internal growth rate? (5 points) 2. What is the sustainable growth rate? (5 points) 3. What is the external financing needed (EFN)? (15 points)

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