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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Balance Sheet Income Statement Sales 95,400 Current $ assets 68,250 Costs Fixed assets
The most recent financial statements for Minnie's Manufacturing Co. are shown below: Balance Sheet Income Statement Sales 95,400 Current $ assets 68,250 Costs Fixed assets $35,500 Debt $ 46,200 95,300 Equity 84,600 Taxable income $27,150 Total $ 130,800 Total $130,800 Tax 6,245 Net Income $20,905 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 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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