Problem $4-6$ Calculating Internal Growth $[$LO$3]$

The most recent financial statements for Mandy Company are shown here:

Income Statement Balance Sheet

Sales $ $20,100$ Current assets $ $11,940$ Debt $ $16,420$

Costs $13,800$ Fixed assets $31,500$ Equity $27,020$

Taxable income $ $6,300$ Total $ $43,440$ Total $ $43,440$

Taxes $(21\%)1,323$

Net income $ $4,977$

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant $45$ percent dividend payout ratio. What is the internal