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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales 91,200 Current $32,000 Debt $ 42,000 assets Costs
The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales 91,200 Current $32,000 Debt $ 42,000 assets Costs 66,150 Fixed assets 93,200 Equity 83,200 Taxable income $25,050 Total $125,200 Total $125.200 Tax 5,261 Net Income $19,789 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. No external financing is possible What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Internal growth rate
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