The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance...
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Accounting
The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $ 63,600 Current assets $ 25,000 Debt $ 41,200 Costs 44,980 Fixed assets 77,900 Equity 61,700 Taxable income $ 18,620 Total $ 102,900 Total $ 102,900 Tax (35%) 6,517 Net Income $ 12,103 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 37 percent dividend payout ratio. No external financing is possible. What is the internal growth rate?
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