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The most recent financial statements for Mandy Company are shown here: Income Statement Balance Sheet $ 11,900 Debt 30,600 Equity Sales Costs Taxable income Taxes
The most recent financial statements for Mandy Company are shown here: Income Statement Balance Sheet $ 11,900 Debt 30,600 Equity Sales Costs Taxable income Taxes (23%) Net income $19,900 13,600 Sustainable growth rate $6,300 1,449 $4,851 Current assets Fixed assets Total $ 42,500 % $ 16,300 26,200 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 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.) Total $42,500
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