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Use the following financial statements for Lake of Egypt Marina, Incorporated LAKE OF EGYPT MARINA, INCORPORATED Balance Sheet as of December 31, 2024 and 2023

Use the following financial statements for Lake of Egypt Marina, Incorporated

LAKE OF EGYPT MARINA, INCORPORATED
Balance Sheet as of December 31, 2024 and 2023
(in millions of dollars)
2024 2023 2024 2023
Assets Liabilities and Equity
Current assets: Current liabilities:
Cash and marketable securities $ 109 $ 51 Accrued wages and taxes $ 54 $ 57
Accounts receivable 143 138 Accounts payable 104 94
Inventory 228 218 Notes payable 94 84
Total $ 480 $ 407 Total $252 $ 235
Fixed assets: Long-term debt: $ 314 $ 294
Gross plant and equipment $ 608 $ 499 Stockholders equity:
Less: Depreciation 150 114 Preferred stock (5 million shares) $ 5 $ 5
Net plant and equipment $ 458 $ 385 Common stock and paid-in surplus (65 million shares) 65 65
Other long-term assets 64 63 Retained earnings 366 256
Total $ 522 $ 448 Total $ 436 $ 326
Total assets $ 1,002 $ 855 Total liabilities and equity $ 1,002 $ 855
LAKE OF EGYPT MARINA, INCORPORATED
Income Statement for Years Ending December 31, 2024 and 2023
(in millions of dollars)
2024 2023
Net sales (all credit) $ 655 $ 572
Less: Cost of goods sold 300 245
Gross profits $ 355 $ 327
Less: Other operating expenses 44 39
Earnings before interest, taxes, depreciation, and amortization (EBITDA) 311 288
Less: Depreciation 36 34
Earnings before interest and taxes (EBIT) $ 275 $ 254
Less: Interest 47 44
Earnings before taxes (EBT) $ 228 $ 210
Less: Taxes 48 63
Net income $ 180 $ 147
Less: Preferred stock dividends $ 5 $ 5
Net income available to common stockholders $ 175 $ 142
Less: Common stock dividends 65 65
Addition to retained earnings $ 110 $ 77
Per (common) share data:
Earnings per share (EPS) $ 2.692 $ 2.185
Dividends per share (DPS) $ 1.000 $ 1.000
Book value per share (BVPS) $ 6.631 $ 4.938
Market value (price) per share (MVPS) $ 15.55 $ 13.35

Calculate the internal and sustainable growth rate for Lake of Egypt Marina, Incorporated.

Note: Do not round intermediate calculations. Round your answers to 2 decimal places.

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