Question: i want the answer to 2 decimal places for example 17.23 A company's sales in 2020 were $3.9 million and its total spontaneous assets were
A company's sales in 2020 were $3.9 million and its total spontaneous assets were $1.3 million. Also in the same year, the firm's spontaneous liabilities consisted of $6.2 million in wages payable, $6.7 million in accounts payable, and $4.9 million in accrued expenses. The firm's profit margin is 2.4% and its dividend payout ratio is 3.1%. The balance sheet at year-end is similar in percentage of sales to that of previous years and this will continue in the future. Required: What is the percentage increase in sales that the company must achieve in order to avoid raising funds externally? Note: The term "k" is used to represent thousands (* $1,000). % (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)
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