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Here are the abbreviated financial statements for Planners Peanuts: Income Statement, 2015 Sales $2,580 Costs...

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Here are the abbreviated financial statements for Planners Peanuts: Income Statement, 2015 Sales $2,580 Costs 1,275 Net income $ 1,305 Assets 2014 $3,600 Balance Sheet, Year-End 2015 $5,580 Debt Equity 2014 $930 2,670 2015 $1,860 3,720 Total $3,600 $5,580 Total $3,600 $5,580 If sales increase by 33% in 2016, and the company uses a percentage-of-sales planning model (meaning that all items on the income and balance sheet also increase by 33%), what must be the balancing item? The balancing item is (Click to select) What will be its value? (Round your answer to 1 decimal place.) Value of the balancing item Problem 19-4 Growth Rates (LO4) Find the sustainable and internal growth rates for a firm with the following ratios: asset turnover = 11; profit margin (net income/sales) = 7%; payout ratio = 29%; equity/assets = 0.1. (Round your answers to 2 decimal places.) Sustainable growth rate Internal growth rate

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