Maggie's Muffins Bakery generated $4,000,000 in sales during 2016, and its year-end total assets were $3,000,000....

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Maggie's Muffins Bakery generated $4,000,000 in sales during2016, and its year-end total assets were $3,000,000. Also, atyear-end 2016, current liabilities were $1,000,000, consisting of$300,000 of notes payable, $500,000 of accounts payable, and$200,000 of accruals. Looking ahead to 2017, 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 6%, and its payout ratio will be 65%. 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 your answers tothe nearest whole.

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Maggie's Muffins Bakery generated $4,000,000 in sales during2016, and its year-end total assets were $3,000,000. Also, atyear-end 2016, current liabilities were $1,000,000, consisting of$300,000 of notes payable, $500,000 of accounts payable, and$200,000 of accruals. Looking ahead to 2017, 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 6%, and its payout ratio will be 65%. 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 your answers tothe nearest whole.