Problem 4-8 Sales and Growth (LO2] The most recent financial statements for Alexander Co. are shown here: Income Statement Sales Costs 36,200 $ 37,720 $44,900 Balance Sheet $18.620 Long-term debt 69,000 Equity Current assets Fixed assets 49,900 Taxable income $ 8,700 Total $ 87,620 Total $ 87,620 Taxes (24%) 2,088 Net Income $ 6,612 Assets and costs are proportional to sales. The company maintains a constant 45 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum dollar 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.) $ 8,700 Taxable Income Total $ 87,620 Total $ 87,620 Taxes (24%) 2,088 Net income $ 6,612 Assets and costs are proportional to sales. The company maintains a constant 45 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum dollar 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 dollar increase