Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 27 Sep 2017 My Price 4.00

Kidwell Industries

Kidwell Industries has equity capital of $12 million, total debt of $8 million, and sales last year of $30 million. a. It has a target assets-to-sales ratio of 0.6667, a target net profit margin of 0.04, a target debt-to-equity ratio of 0.6667, and a target earnings retention rate of 0.75. In steady state, what is its sustainable growth rate? b. Suppose the company has established for next year a target assets-to-sales ratio of 0.62, a target net profit margin of 0.05, and a target debt-to-equity ratio of 0.80. It wishes to pay an annual dividend of $0.3 million and raise $1 million in equity capital next year. What is its sustainable growth rate for next year? Why does it differ from that in Part (a)?

Answers

Maurice Tutor
(5)
Status NEW Posted 27 Sep 2017 12:09 AM My Price 4.00

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