***PLEASE SHOW WORKING NOTES --- I've included mine to compare my calculations to ensure they're correct. ***Please also advise on Questions B, C, and D. Thank you!

Under Armour, Inc. is an American supplier of sportswear and casual apparel. Following are selected financial data for the company for the period 2009-2013. Source: Data from Under Armour 2009-2013 annual reports a. Calculate Under Armour's annual sustainable growth rate for the years 2009 through 2013. b. Did Under Armour face a growth management challenge during this period? Please explain briefly. c. How did Under Armour cope with this challenge? d. Calculate Under Armour's sustainable growth rate in 2013 assuming a profit margin of 8.0%. Calculate the sustainable growth rate in 2013 assuming a financial leverage of 2.40 times. Calculate the sustainable growth rate in 2013 assuming both of these changes occur. \begin{tabular}{|l|c|c|c|c|c|} \hline \multicolumn{1}{|c|}{ Particulars } & 2009 & 2010 & 2011 & 2012 & 2013 \\ \hline Profit margin (\%) & 5.5 & 6.4 & 6.6 & 7.0 & 7.0 \\ \cline { 2 - 6 } Retention ratio (\%) & 100.0 & 100.0 & 100.0 & 100.0 & 100.0 \\ \cline { 2 - 7 } Asset turnover (X) & 1.6 & 1.6 & 1.6 & 1.6 & 1.5 \\ \cline { 2 - 7 } Financial leverage (X) & 1.7 & 1.7 & 1.9 & 1.8 & 1.9 \\ \cline { 2 - 7 } Growth rate in sales (\%) & 18.1 & 24.2 & 38.4 & 24.6 & 27.1 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Calculation of Sustainable Growth Rate for Period 2009-2013 } \\ \hline \multicolumn{1}{|c|}{ Particulars } & 2009 & 2010 & 2011 & 2012 \\ \hline ROE & =C3C5C6/100 & =D3D5D6/100 & =E3E5E6/100 & =F3F5F6/100 \\ \hline Retention ratio & =C4/100 & =D4/100 & =G3G5G6/100 \\ \hline Growth = ROE x Retention Ratio (%) & =C11C12 & =D11D12 & =G4/100 \\ \hline \end{tabular}