Question: the most recent financial statements for hailey co are shown...
|The most recent financial statements for Hailey Co. are shown here:|
|Income Statement||Balance Sheet|
|Sales||$||80,400||Current assets||$||32,400||Long-term debt||$||69,800|
Assets and costs are proportional to sales. The company 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? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)