Show work please.

Self-Supporting Growth Rate Maggie's Muffins Bakery generated $4 million in sales during 2019, and its year-end total assets were $2.2 million. Also, at year-end 2019 , current liabiaties were $1 million, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2020 , the company. estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 4%, and its payout ratio will be 65%. How large a sales increase can the company achieve without having to raise funds externally-that is, what is its selfsupporting growth rate? Do not round intermediate calculations. Enter your answer for sales increase in dollars. For example, an answer of $2 million should be entered as 2,000,000.Round the monetary value to the nearest dollar and percentage value to one decimal place. Sales can increase by $ 6, that is by 8%