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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Sales $97800 Current assets Costs 69.450 Fixed assets Balance Sheet $
The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Sales $97800 Current assets Costs 69.450 Fixed assets Balance Sheet $ 37,500 Debt $ 48,600 85,400 96,500 Equity Taxable income $28,350 Total $134,000 Total $134,000 6,237 Net Income $ 22,113 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. No external equity financing is possible. 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.) Sustainable growth rate
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