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The most recent financial statements for Mandy Company are shown below: Income Statement Balance...

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Accounting

The most recent financial statements for Mandy Company are shown below:
Income Statement Balance Sheet
Sales $ 93,000 Current assets $ 33,500 Debt $ 43,800
Costs 67,050 Fixed assets 94,100 Equity 83,800
Taxable income $ 25,950 Total $ 127,600 Total $ 127,600
Tax (24%)6,228
Net Income $ 19,722
Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. No external equity financing is possible. What is the sustainable growth rate?

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