Please show completed table

Imagine a corporation with $1,000,000 of assets and a debt ratio of 40%. ROE (return on equity) is expected to be 20% for the foreseeable future. Assuming the firm maintains the same amount of debt indefinitely (as opposed to keeping the same debt ratio), respond to the following questions. (12 marks)

b. If the firm doesnt pay any dividends or re-purchase any shares, at what rate would the firm grow from year to year?

Complete the table.

Year	Beginning balance, equity	Net income	Return on equity = net income /opening equity	Dividends and/or repurchases	Ending balance, equity	Growth rate
1			%	0		%
2			%	0		%
3			%	0		%

c. If the firm pays 50% of its earnings as dividends, at what rate would the firm grow from year to year?

Complete the table.

Year	Beginning balance, equity	Net income	Return on equity = net income /opening equity	Dividends	Ending balance, equity	Growth rate
1			%			%
2			%			%
3			%			%

d. If the firm uses 80% of its earnings to re-purchase shares from its shareholders, at what rate would the firm grow from year to year?

Complete the table.

Year	Beginning balance, equity	Net income	Return on equity = net income /opening equity	Repurchases	Ending balance, equity	Growth rate
1			%			%
2			%			%
3			%			%

e. If the firm pays 50% of its earnings as dividends and uses an additional 20% of its earnings to repurchase shares from its shareholders, at what rate would the firm grow from year to year?

Complete the table.

Year	Beginning balance, equity	Net income	Return on equity = net income /opening equity	Dividends	Repur-chases	Ending balance, equity	Growth rate
1			%				%
2			%				%
3			%				%

f. If you have done the calculations correctly in the tables above, you should have the same growth rate every year. How long could the company grow at this constant rate if all the given factors remained the same?