Better Burgers reported the following numbers (in millions) for the years ending February 2011 and 2012.

2011 2012

Net income $ 1,427

Dividends 206

Total assets $ 13,590 12,778

Total equity 6,221 4,504

Requirement 1:

What are the internal and sustainable growth rates? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)

Internal growth rate %

Sustainable growth rate %

Requirement 2:

What are the internal and sustainable growth rates using ROE × b and (ROA × b) and the end of period equity (assets)? (Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)

Internal growth rate %

Sustainable growth rate %

Requirement 3:

What are the growth rates if you use the beginning of period equity in this equation? (Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)

 Internal growth rate %

 Sustainable growth rate %