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The most recent financial statements for Schenkel Co. are shown here: Income Statement Sales $14,200 Costs 8,500 Current assets Fixed assets Balance Sheet $
The most recent financial statements for Schenkel Co. are shown here: Income Statement Sales $14,200 Costs 8,500 Current assets Fixed assets Balance Sheet $ 11,100 Debt $ 15,600 26,750 Equity 22,250 Taxable $ 5,700 Total $37,850 Total $37,850 income Taxes (40%) 2,280 Net income $ 3,420 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 40 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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