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The most recent financial statements for Alexander Co. are shown here: Income Statement Sales Costs Taxable Balance Sheet $44,450 Current assets 18,380 Long-term debt 36,050
The most recent financial statements for Alexander Co. are shown here: Income Statement Sales Costs Taxable Balance Sheet $44,450 Current assets 18,380 Long-term debt 36,050 Fixed assets 68,850 Equity 49,660 $8,400 Total $ 87,230 Total $87,230 income Taxes (21%) 1.764 Net income$6,636 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 Maximum dollar increase
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