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Problem 4-6 Calculating Internal Growth [LO3] The most recent financial statements for Bello Co. are shown here: Income Statement Balance Sheet Sales $20,600 Current $12,040

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Problem 4-6 Calculating Internal Growth [LO3] The most recent financial statements for Bello Co. are shown here: Income Statement Balance Sheet Sales $20,600 Current $12,040 Debt $ 16,720 assets Costs 14,200 Fixed assets 33,750 Equity 29,070 Taxable income $ 6,400 Total $45,790 Total $45,790 Taxes (23%) 1,472 Net income $ 4,928 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.) Internal growth rate %

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