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Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2015 and 2014

Use the following financial statements for Lake of Egypt Marina, Inc.

LAKE OF EGYPT MARINA, INC. Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars)
2015 2014 2015 2014
Assets Liabilities and Equity
Current assets: Current liabilities:
Cash and marketable securities $ 87 $ 50 Accrued wages and taxes $ 55 $ 58
Accounts receivable 145 140 Accounts payable 105 95
Inventory 230 220 Notes payable 95 85
Total $ 462 $ 410 Total $ 255 $ 238
Fixed assets: Long term debt: $ 315 $ 295
Gross plant and equipment $ 610 $ 501 Stockholders equity:
Less: Depreciation 152 115 Preferred stock (5 million shares) $ 5 $ 5
Common stock and paid-in surplus (65 million shares) 65 65
Net plant and equipment $ 458 $ 386 Retained earnings 345 257
Other long-term assets 65 64
Total $ 523 $ 450 Total $ 415 $ 327
Total assets $ 985 $ 860 Total liabilities and equity $ 985 $ 860

LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2015 and 2014 (in millions of dollars)
2015 2014
Net sales (all credit) $ 665 $ 582
Less: Cost of goods sold 305 250
Gross profits $ 360 $ 332
Less: Other operating expenses 45 40
Other operating expenses

Earnings before interest, taxes, depreciation, and amortization (EBITDA)

$ 315 $ 292
Less: Depreciation 37 35
Earnings before interest and taxes (EBIT) $ 278 $ 257
Less: Interest 48 45
Earnings before taxes (EBT) $ 230 $ 212
Less: Taxes 72 70
Net income $ 158 $ 142
Less: Preferred stock dividends $ 5 $ 5
Net income available to common stockholders $ 153 $ 137
Less: Common stock dividends 65 65
Addition to retained earnings $ 88 $ 72
Per (common) share data:
Earnings per share (EPS) $ 2.350 $ 2.110
Dividends per share (DPS) $ 1.000 $ 1.000
Book value per share (BVPS) $ 6.310 $ 4.950
Market value (price) per share (MVPS) $ 15.500 $ 13.300

Calculate the internal and sustainable growth rate for Lake of Egypt Marina, Inc. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

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