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The most recent financial statements for Alexander Co. are shown here: ncome Statement Balance Sheet $ 44,150 Current $18,220 Long-term $ 37470 Sales Costs Taxable
The most recent financial statements for Alexander Co. are shown here: ncome Statement Balance Sheet $ 44,150 Current $18,220 Long-term $ 37470 Sales Costs Taxable assets debt 35,950 Fixed assets 68,750 Equity 49,500 $ 8,200 Total $86,970 Total $86,970 income Taxes (24%) 1.968 Net income $ 6,232 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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