Major Manuscripts, Inc. 2009 Income Statement Net sales 7,600 ...
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Accounting
Major Manuscripts, Inc. 2009 Income Statement
Net sales
7,600
Cost of goods sold
6,665
Depreciation
210
Earnings before interest and taxes
725
Interest paid
21
Taxable Income
704
Taxes
245
Net income
459
Dividends
206
Major Manuscripts, Inc. 2009 Balance Sheet
2009
2009
Cash
2,150
Accounts payable
1,550
Accounts rec.
860
Long-term debt
280
Inventory
2,300
Common stock
2,500
Total
5,310
Retained earnings
4,000
Net fixed assets
3,020
Total assets
8,330
Total liabilities & equity
8,330
Major Manuscripts, Inc. does not want to incur any additional external financing. The dividend payout ratio is constant. What is the firm's maximum rate of growth?
Multiple Choice
2.54%
11.11%
3.12%
4.04%
3.15%
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