Problem 19-4 Growth Rates (L04) Find the sustainable and internal growth rates for a firm with the following ratios: asset turnover = 1.4; profit margin (net income/sales) = 7%; payout ratio = 31%, equity/assets = 0.7 (Round your answers to 2 decimal places.) Sustainable growth rate Internal growth rate Problem 19-9 Percentage-of-Sales Models (LO2) Here are the abbreviated financial statements for Planners Peanuts: Sales Costs Income Statement, 2015 $3,980 1,540 Net income $ 2,440 Assets 2014 $3,230 Balance Sheet, Year-End 2015 $3,200 Debt Equity 2014 $950 2,280 2015 $1,180 2,020 Total $3,230 $3,200 Total $3,230 $3,200 If sales increase by 22% in 2016, and the company uses a percentage-of-sales planning model (meaning that all items on the income and balance sheet also increase by 22%), what must be the balancing item? The balancing item is (Click to select) What will be its value? (Round your answer to 1 decimal place.) Value of the balancing item $