This question relates to the below C Manufacturing 2020 Income Statement and Balance Sheet:

Assuming C Manufacturing' management wanted to increase sales by the Internal Growth Rate over the next year, how much would they be increasing sales by in 2021?

 

C Manufacturing 2020 Balance Sheet Cash Inventories Accounts Receivable Net Fixed Assets Total Assets Sales COGS S, G & A EBIT Interest Earnings Before Tax Taxes Net Income (Earnings After Tax) 20,000 20,000 25,000 65,000 C Manufacturing 2020 Income Statement Dividends Retained Earnings 180,000 245,000 150,000 50,000 30,000 70,000 10,000 60,000 24,000 36,000 10,800 25,200 Accounts Payable Notes Payable Long-Term Debt Common Stock ($1 par) Retained Earnings Total Equity Total Liabilities + Owner's Equity 10,000 5,000 15,000 80,000 100,000 50,000 150,000 245,000