The most recent financial statements for Alexander Co. are shown here:
Income Statement Balance Sheet Sales $ 49,800 Current assets $ 23,400 Long-term debt $ 52,500 Costs 37,900 Fixed assets 90,000 Equity 60,900 Taxable income $ 11,900 Total $ 113,400 Total $ 113,400 Taxes (34%) 4,046 Net income $ 7,854 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 dollar 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.) Maximum increase in sales $