Question: k is used to represent Thousands ( x $1000). Round the answer to two decimal places. A company's sales in 2020 were $5.4 million and

k is used to represent Thousands ( x $1000).

Round the answer to two decimal places. k is used to represent Thousands ( x $1000). Round the

A company's sales in 2020 were $5.4 million and its total spontaneous assets were $5.5 million. Also in the same year, the firm's spontaneous liabilities consisted of $5.5 million in wages payable, $6.8 million in accounts payable, and $1.9 million in accrued expenses. The firm's profit margin is 3% and its dividend payout ratio is 3.5%. 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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