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The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet 53,000 Current assets 24,400 Long-term debt 47,000 Sales 42,500 Fixed
The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet 53,000 Current assets 24,400 Long-term debt 47,000 Sales 42,500 Fixed assets 72,400 Costs 95,000 Equity Taxable income 10,500 Total 119,400 Total $119,400 3,570 Taxes (34 Net income 6,930 Assets and costs are proportional to sales. The company maintains a constant 20 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 increase in sales
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