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Problem 4-7 Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected financial data
Problem 4-7 Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected financial data for the company for the period 2012-2016. 2012 2013 2014 2015 2016 0.3 4.0 6.4 10.4 18.4 100.0 100.0 100.0 100.0 100.0 0.54 0.59 0.64 0.69 0.74 1.19 1.23 1.26 1.31 1.39 18.4 17.9 15.4 31.9 23.4 Profit margin (%) Retention ratio (%) Asset turnover (X) Financial leverage (x) Growth rate in sales (%) Source: Data from Nobility Homes 2012 to 2016 annual reports a. Calculate Nobility Homes' annual sustainable growth rate for the years 2012 through 2016. Note: Round your answers to 1 decimal place. Year Sustainable Growth Rate 2012 % 2013 % 2014 % 2015 % 2016 %
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