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The most recent financial statements for Alexander Co. are shown here: ncome Statement Sales Costs Taxable Balance Sheet Long-term$38,020 36,500 Fixed assets 69,300 Equity 50,380
The most recent financial statements for Alexander Co. are shown here: ncome Statement Sales Costs Taxable Balance Sheet Long-term$38,020 36,500 Fixed assets 69,300 Equity 50,380 $88,400 $45,800 Current debt $ 9,300 Total $88,400 Total income Taxes (25%) 2,325 Net income $ 6,975 Assets and costs are proportional to sales. The company maintains a constant 35 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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