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The most recent financial statements for Mandy Company are shown here: Income Statement Balance Sheet Sales $ 19,800 Current assets $ 11,880 Debt $ 16,240
The most recent financial statements for Mandy Company are shown here: |
Income Statement | Balance Sheet | ||||
---|---|---|---|---|---|
Sales | $ 19,800 | Current assets | $ 11,880 | Debt | $ 16,240 |
Costs | 13,500 | Fixed assets | 30,150 | Equity | 25,790 |
Taxable income | $ 6,300 | Total | $ 42,030 | Total | $ 42,030 |
Taxes (24%) | 1,512 | ||||
Net income | $ 4,788 | ||||
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 sustainable growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
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