Maggie's Muffins Bakery generated $4 million in sales during 2018, and its year-end total assets were...

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Maggie's Muffins Bakery generated $4 million in sales during2018, and its year-end total assets were $2.4 million. Also, atyear-end 2018, current liabilities were $1 million, consisting of$300,000 of notes payable, $500,000 of accounts payable, and$200,000 of accruals. Looking ahead to 2019, the company estimatesthat its assets must increase at the same rate as sales, itsspontaneous liabilities will increase at the same rate as sales,its profit margin will be 5%, and its payout ratio will be 50%. Howlarge a sales increase can the company achieve without having toraise funds externally—that is, what is its self-supporting growthrate? Do not round intermediate calculations. Round the monetaryvalue to the nearest dollar and percentage value to the nearestwhole number.
Sales can increase by $ , that isby %.

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Maggie's Muffins Bakery generated $4 million in sales during2018, and its year-end total assets were $2.4 million. Also, atyear-end 2018, current liabilities were $1 million, consisting of$300,000 of notes payable, $500,000 of accounts payable, and$200,000 of accruals. Looking ahead to 2019, the company estimatesthat its assets must increase at the same rate as sales, itsspontaneous liabilities will increase at the same rate as sales,its profit margin will be 5%, and its payout ratio will be 50%. Howlarge a sales increase can the company achieve without having toraise funds externally—that is, what is its self-supporting growthrate? Do not round intermediate calculations. Round the monetaryvalue to the nearest dollar and percentage value to the nearestwhole number.Sales can increase by $ , that isby %.