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The most recent financial statements for Beckett Co. are shown here: INCOME STATEMENT Sales $ 76,100 Costs 60,200 BALANCE SHEET Current Long-term $ 21,500 assets
The most recent financial statements for Beckett Co. are shown here: INCOME STATEMENT Sales $ 76,100 Costs 60,200 BALANCE SHEET Current Long-term $ 21,500 assets Fixed assets 149,000 Equity debt $ 55,000 115,500 $ 15,900 Total $170,500 Total $170,500 Taxable income Taxes (23%) 3,657 Net income $ 12,243 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 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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