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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $93.600 Current $ 34,000 Debt $ 44,400 Costs
The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $93.600 Current $ 34,000 Debt $ 44,400 Costs Fixed assets 67,350 94,400 Equity 84,000 assets Taxable income Total $26,250 $128,400 Total $ 128,400 Tax 6,563 Net Income $ 19,687 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 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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