The most recent financial statements for Throwing Copper Co. are shown here: Inc
ID: 2692525 • Letter: T
Question
The most recent financial statements for Throwing Copper Co. are shown here: Income Statement Balance Sheet Sales $50,000 Current assets $78,300 Long-term debt $54,000 Costs 32,000 Fixed assets 43,200 Equity 67,500 Taxable income $18,000 Total $121,500 Total $121,500 Taxes (35%) 6,300 Net income $11,700 Assets and costs are proportional to sales. The company maintains a constant 16 percent dividend payout ratio and a constant debt?equity ratio. Required: What is the maximum increase in sales that can be sustained assuming no new equity is issued? (Do not round your intermediate calculations.)Explanation / Answer
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