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The most recent financial statements for Mandy Company are shown below: Income Statement Sales Costs $ 88,800 Current assets 64,950 Fixed assets Taxable income

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The most recent financial statements for Mandy Company are shown below: Income Statement Sales Costs $ 88,800 Current assets 64,950 Fixed assets Taxable income $ 23,850 Total Balance Sheet $ 30,000 92,000 $ 122,000 Debt Equity $ 39,600 82,400 Total $ 122,000 Tax (22%) 5,247 Net Income $ 18,603 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. No external equity financing is possible. What is the sustainable growth rate? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Sustainable growth rate %

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