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Teaching Since:	May 2017
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Argosy University/ Phoniex University/
Nov-2005 - Oct-2011

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Professor
Phoniex University
Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 4.00

Tool Co.

Sales and Growth

The most recent financial statements for Tool Co. are shown here:

Income Statement			Balance Sheet
Sales	$46,000	Net working capital	$ 21,000	Long-term debt	$ 60,000
Costs	30,400	Fixed assets	100,000	Equity	61,000
Taxable income	$15,600	Total	$121,000	Total	$121,000
Taxes (34%)	5,304
Net income	$10,296

Assets and costs are proportional to sales. Tool Co. maintains a constant 30 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum increase in sales that can be sustained assuming no new equity is issued?

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Maurice Tutor

(5)

Status NEW Posted 26 Sep 2017 03:09 PM My Price 4.00

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