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The most recent financial statements for Mandy Co. are shown here. Assets and costs are proportional to sales. Debt and equity are not. The company
The most recent financial statements for Mandy Co. are shown here. Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. What is the internal growth rate? Input area: \begin{tabular}{|lrr|} \hline Sales & $16,400 \\ Costs & 11,200 \\ Taxable income & $5,200 & \\ \cline { 2 - 3 } Taxes & 1,092 \\ Net income & $4,108 & \\ Current assets & $11,200 Debt & $13,600 \\ Fixed assets & 24,300 Equity & 21,900 \\ \cline { 2 - 3 } Total & $35,500 \\ Total & 30% & $35,500 \\ Payout ratio & 21% & \\ Tax rate & & \\ \hline \end{tabular} (Use cells A6 to D15 from the given information to complete this question.) Output area: Return on assets Retention ratio Internal growth rate
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