Sales Costs The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement...

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Sales Costs The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement $88,800 Current Balance Sheet $30,000 Debt $ 39,600 assets 64,950 Fixed assets 92,000 Equity 82,400 Taxable income $23,850 122,000 Total $ Total $122,000 Tax 5,247 18,603 Net Income $ Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 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 Sales Costs The most recent financial statements for Minnie's Manufacturing Co. are shown below: Income Statement $88,800 Current Balance Sheet $30,000 Debt $ 39,600 assets 64,950 Fixed assets 92,000 Equity 82,400 Taxable income $23,850 122,000 Total $ Total $122,000 Tax 5,247 18,603 Net Income $ Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 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

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To calculate the internal growth rate we can use the formula Internal Growth Rate R... View the full answer