The most recent financial statements for Hailey Co. are shown here: Income Statement Balance Sheet...
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The most recent financial statements for Hailey Co. are shown here: Income Statement Balance Sheet Sales $ 82,200 Current assets $ 32,700 Long-term debt $ 70,400 Costs 27,400 Fixed assets 129,500 Equity 91,800 Taxable income $ 54,800 Total $ 162,200 Total $ 162,200 Taxes (24%) 13,152 Net income $ 41,648 Assets and costs are proportional to sales. The company maintains a constant 35 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum increase in sales that can be sustained assuming no new equity is issued? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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