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The most recent financial statements for Bello Co. are shown here: Income Statement $19,000 Current Sales Costs $ 15,760 Balance Sheet $ 11,720 Debt 26,550
The most recent financial statements for Bello Co. are shown here: Income Statement $19,000 Current Sales Costs $ 15,760 Balance Sheet $ 11,720 Debt 26,550 Equity assets Fixed assets 12,880 Taxable income $ 6,120 Total $38,270 Total $38,270 Taxes (21%) 1,285 Net income $ 4,835 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Internal growth rate 17.64 %
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