Question
The most recent financial statements for Mandy Company are shown here: Income Statement Sales Costs Taxable income $ 16,400 11,200 $ 5,200 Current assets
The most recent financial statements for Mandy Company are shown here: Income Statement Sales Costs Taxable income $ 16,400 11,200 $ 5,200 Current assets Fixed assets Total Balance Sheet $ 11,200 24,300 Debt Equity $ 13,600 $ 35,500 Total 21,900 $35,500 Tax (21%) 1,092 Net Income $ 4,108 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. No external 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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