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Question: The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance

Sheet Sales $ 63,600

Current assets $ 25,000

Debt $ 41,200

Costs 44,980

Fixed assets 77,900

Equity 61,700

Taxable income $ 18,620

Total $ 102,900

Tax (35%) 6,517

Net Income $ 12,103

Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 37 percent dividend payout ratio. No external financing is possible. What is the internal growth rate?

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Category:- Basic Finance
Reference No.:- M93058398

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