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Self-Supporting Growth Rate Maggie's Muffins Bakery generated $2 million in sales during 2019, and its...

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Self-Supporting Growth Rate Maggie's Muffins Bakery generated $2 million in sales during 2019, and its year-end total assets were $1.4 million. Aso, at year-end 2019 , current liabilities were $1 million, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. 100king ahead to 2020 , the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 5%, and its payout ratio will be 70%. How large a sales increase can the company achieve without having to raise funds externally - that is, what is its self-supporting growth rate? Do not round intermediate calculations. Enter your answer for sales increase in dollars. For example, an answer of $2 million should be entered as 2,000,000. Round the monetary value to the nearest dollar and percentage value to one decimal place. Sales can increase by $ Q. that is by %

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