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The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Current Long-term debt $42,950 $17,580 $37,070 Sales assets Costs 35,550
The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Current Long-term debt $42,950 $17,580 $37,070 Sales assets Costs 35,550 Fixed assets 68,350 Equity 48,860 Taxable $ 7,400 $85,930 $85,930 Total Total income Taxes (21%) 1,554 Net income $ 5,846 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.)
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