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The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Sales 52,400 Current assets $ 22,600 Long-term debt $ 52,000
The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Sales 52,400 Current assets $ 22,600 Long-term debt $ 52,000 62,600 Costs Taxable income Taxes (34%) 42,200 Fixed assets 92,000 Equity Total $10,200 3,468 Net income 6,732 $114,600 Total $114,600 Assets and costs are proportional to sales. The company maintains a constant 30 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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