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The most recent financial statements for Minnie's Manufacturing Co. are shown below. Income Statement Sales $94,200 Current assets Costs 67.650 Fixed assets Balance Sheet $34,500
The most recent financial statements for Minnie's Manufacturing Co. are shown below. Income Statement Sales $94,200 Current assets Costs 67.650 Fixed assets Balance Sheet $34,500 Debt $ 45,000 94,700 Equity 84,200 Taxable income $25,550 Total $129,200 Total $129,200 Tax 5,576 Net Income $20.974 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 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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