The most recent financial statements for Burnaby Co. are shown here: Statement of Comprehensive Income...
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The most recent financial statements for Burnaby Co. are shown here: Statement of Comprehensive Income Sales $13,250 Costs 9,480 Taxable income $ 3,770 Taxes (40%) 1,508 Net income $ 2,262 Statement of Financial Position Current assets $10,400 Debt Fixed assets 28,750 Equity Total $39, 150 Total $ 17,500 21,650 $39, 150 Assets and costs are proportional to sales. Debt and equity are not. Burnaby maintains a constant 30% dividend payout ratio. No external equity financing is possible. What is the internal growth rate? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Internal growth rate 7.89 %
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