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The most recent financial statements for Bello Co. are shown here: Income Statement Balance Sheet Sales $ 19,900 Current assets $ 11,900 Debt $ 16,300

The most recent financial statements for Bello Co. are shown here:

Income Statement Balance Sheet
Sales $ 19,900 Current assets $ 11,900 Debt $ 16,300
Costs 13,600 Fixed assets 30,600 Equity 26,200
Taxable income $ 6,300 Total $ 42,500 Total $ 42,500
Taxes (23%) 1,449
Net income $ 4,851

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 percent dividend payout ratio.

What is the internal growth rate?

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