Problem $4-4$

$10$ points

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Table $3\mathrm{.}1$ presents R&E Supplies' financial statements for the period $2018$ through $2021,$ and Table $3\mathrm{.}5$ presents a pro forma financial forecast for $2022.$ Use the information in these tables to answer the following questions.

Calculate R&E$\text{'}$s sustainable growth rate in each year from $2019$ through $2022.$ Assume the dividend payout ratio was the same in $2019$ to $21$ as forecasted in $2022.$

Note: Round each step and the final answers to $1$ decimal place.

$\backslash$table$[[$Year$,$Sustainable Growth Rate$],[2019,,\%$