Problem 3-7 Sustainable Growth Assume the following ratios are constant: Total asset 2.60 turnover Profit margin 6.6% Equity multiplier 1.50 Payout ratio 25% What is the sustainable growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Sustainable growth rate % Problem 3-5 Sales and Growth The most recent financial statements for Hailey Co. are shown here: Balance Sheet Income Statement Sales $62,400 Costs 25,200 Current assets Fixed assets $ 29,400 124,000 Long-term debt Equity $ 63,800 89,600 Taxable $ 37,200 Total $153,400 Total $153,400 income Taxes (23%) 8,556 Net income $28,644 Assets and costs are proportional to sales. The company maintains a constant 40 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum increase in sales that can be sustained assuming no new equity is issued? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Maximum increase in sales