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The most recent financial statements for Alexander Co. are shown here: Income Statement Sales Costs Balance Sheet Long-term $37,820 50,060 $87,880 $45,200 Current 8,70 debt
The most recent financial statements for Alexander Co. are shown here: Income Statement Sales Costs Balance Sheet Long-term $37,820 50,060 $87,880 $45,200 Current 8,70 debt assets 36,300 Fixed assets 69,100 Equity Taxable $ 8,900 Total $87,880 Total income Taxes (21%) 1,869 Net income $ 7,031 Assets and costs are proportional to sales. The company maintains a constant 30 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
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