Using the following balance sheet for Sherman, Incorporated below to answer the next 10 questions Sherman, Incorporated Balance Sheet (in dollars) for the Year Ending December 31, 2018 Notes payable Accounts payable Cash 12,000 24,000 11,000 16,000 3,000 Accounts receivable Inventory 46.000 82,000 156,000 238,000 ccruals Current assets Current portion LD debt 7,000 37,000 66,000 20,000 67,000 48,000 238,000 Net fixed assets Current liabilities Total assets LT Debt Common stock ($2.00 par value) Additional paid in capital Retained earnings Total liabilities & equity 26. Sales for Sherman, Inc. in 2018 were $700,000. The projected net profit margin for 2019 is 5 percent. If all assets and all spontaneous liabilities (i.e., accounts payable and accruals) grow as a percent of sales, and if Sherman plans to pay out 70 percent of all net income as dividends in 2019, what is Sherman's sustainable growth rate for 2019? 27. Sales for 2018 were $550,000. The 2019 projected net profit margin is 3.5%. Sherman plans to pay a total dividend of $3,000 in 2019. Assuming that all current assets and all current liabilities except for current portion of LT debt grow as a percent of sales (i.e., current portion of LT debt does not change), what is sustainable growth rate for 2019? 28. Sales for Sherman, Inc. in 2018 were $850,000. The 2019 projected net profit margin is 4.8%. Sherman plans to pay out 72 percent of net income as dividends in 2019. Assuming that cash does not change from its 2018 level, accounts receivable and inventory grow as a percent of sales, net fixed assets grow at 60% of the growth rate in sales, and all current liabilities grow as a percent of sales, what is sustainable growth rate for 2019? 29. Sales for 2018 were $600,000. The 2019 projected net profit margin is 6.0%. Sherman plans to pay a total dividend of $25,000 in 2019. Assuming that all current assets and all spontaneous liabilities (i.e., accounts payable and accruals) grow as a percent of sales, that net fixed assets grow at 45 percent of the growth rate in sales, and that 2,000 additional shares of stock will be sold by Sherman in 2019 for $3.00 per share, what is Sherman's sustainable growth rate for 2019? 30. Sherman forecasts that sales in 2019 will be $1,125,000. The 2019 projected net profit margin is 1.0% and Sherman plans to pay a dividend in 2019 of $0.40 per share. Assuming that all current assets will grow as a percent of sales, that net fixed assets will grow by $25,000 (this is the total cost of a new factory that Sherman will build in 2019), that Sherman's 2019 current ratio will be 2.0, that Sherman's debt ratio (i.e., total liabilities divided by total assets) will be the same in 2019 as it is in 2018, what is Sherman's sustainable growth rate for 2019