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The most recent financial statements for Hailey Co. are shown here: Balance Sheet Current Income Statement Sales $78,600 Costs 27,000 Long-term $ 32,100 $ 69,200
The most recent financial statements for Hailey Co. are shown here: Balance Sheet Current Income Statement Sales $78,600 Costs 27,000 Long-term $ 32,100 $ 69,200 assets Fixed assets 128,500 debt Equity 91,400 Taxable income $ 51,600 Total $160,600 Total $160,600 Taxes (22%) 11,352 Net income $40,248 Assets and costs are proportional to sales. The company maintains a constant 25 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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