Major Manuscripts, Inc. 2009 Income Statement Net sales 7,600 ...
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Accounting
Major Manuscripts, Inc. 2009 Income Statement
| Net sales | 7,600 |
| Cost of goods sold | 6,665 |
| Depreciation | 210 |
| Earnings before interest and taxes | 725 |
| Interest paid | 21 |
| Taxable Income | 704 |
| Taxes | 245 |
| Net income | 459 |
| Dividends | 206 |
| Major Manuscripts, Inc. 2009 Balance Sheet |
| 2009 | 2009 |
| Cash | 2,150 | Accounts payable | 1,550 |
| Accounts rec. | 860 | Long-term debt | 280 |
| Inventory | 2,300 | Common stock | 2,500 |
| Total | 5,310 | Retained earnings | 4,000 |
| Net fixed assets | 3,020 |
| Total assets | 8,330 | Total liabilities & equity | 8,330 |
Major Manuscripts, Inc. does not want to incur any additional external financing. The dividend payout ratio is constant. What is the firm's maximum rate of growth?
Multiple Choice
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2.54%
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11.11%
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3.12%
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4.04%
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3.15%
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