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If major manuscripts inc decides to maintain constant

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Reference no: EM13478621

Major Manuscripts, Inc.
2012 Income Statement
Net sales $ 8,800
Cost of goods sold
7,265
Depreciation

 

320
Earnings before interest and taxes $ 1,215
Interest paid

 

80
Taxable Income $ 1,135
Taxes

 

405
Net income

$

730
Dividends $ 292


Major Manuscripts, Inc.
2012 Balance Sheet

2012

2012
Cash $ 2,270
Accounts payable $ 1,170
Accounts rec.
980
Long-term debt
380
Inventory

 

3,700
Common stock $ 3,900
Total $ 6,950
Retained earnings

 

5,230
Net fixed assets

 

3,730



Total assets

$

10,680
Total liabilities & equity

$

10,680

If Major Manuscripts, Inc., decides to maintain a constant debt-equity ratio, what rate of growth can it maintain assuming that no additional external equity financing is available?

a) 5.04 percent
b) 9.14 percent
c) 7.83 percent
d) 4.58 percent
e) 4.28 percent

Reference no: EM13478621

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