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The most recent financial statements for Beckett Co. are shown here: INCOME STATEMENT Sales $76,700 BALANCE SHEET Current $ 22,000 Long-term assets debt Fixed assets
The most recent financial statements for Beckett Co. are shown here: INCOME STATEMENT Sales $76,700 BALANCE SHEET Current $ 22,000 Long-term assets debt Fixed assets 150,000 Equity $ 56,000 Costs 61,000 116,000 $ 15,700 Total $172,000 Total $172,000 Taxable income Taxes (24%) 3,768 Net income $ 11,932 Assets and costs are proportional to sales. The company maintains a constant 40 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum increase 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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