A company's sales in 2020 were $2.6 million and its total spontaneous assets were $6.8...
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Accounting
A company's sales in 2020 were $2.6 million and its total spontaneous assets were $6.8 million. Also in the same year, the firm's spontaneous liabilities consisted of $50 million in wages payable. $7.5 million in accounts payable, and $7.8 million in accrued expenses. The firm's profit margin is 7.3% and its dividend payout ratio is 2 The balance sheet atyear-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 is used to represent thousands (* $1.000) (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)
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