The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance Sheet Sales Costs Taxable income Tax (40%) Net Income 63,100 Current assets 45,230 Fixed assets 22,500 Debt 38,700 75,400 Equity 59,200 17,870 Total $ 97,900 Total S 97,900 7,148 $10,722 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 32 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 Hints References eBook&Resources Hint #1 Check my work