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The most recent financial statements for Alexander Co. are shown here: Income Statement Sales $43,400 Current assets Fixed assets Balance Sheet $ 17,820 Long-term 68.500
The most recent financial statements for Alexander Co. are shown here: Income Statement Sales $43,400 Current assets Fixed assets Balance Sheet $ 17,820 Long-term 68.500 Equity $ 37,220 Nebt Costs 35,700 49.100 Taxable income $ 7700 Total $ 86,320 Total $86,320 Taxes (24%) 1,848 Net income $ 5,852 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
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