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Please give answers as formulas!!! (using cell names)The most recent financial statements for Schenkel Co. are shown below. Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. VWhat is the sustainable growth rate? 4 Sales $ 16,200 Current assets $ 10,100 Debt $ 16,400 26,500 Equity 36,600 Total 36,600 7Costs 10,400 Fixed assets 20,200 Taxable income $5,800 Total 2,320 $3,480 Taxes 10 Net income 12 Payout ratio 13 Tax rate 30% 21% 15 16 Complete the following analysis. Do not hard code values in your calculations. 17 18Return on equity 19 Retention ratio 21 22 Sustainable growth rate

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C15 f(C13*C14)/(1-C13*C14) A. Answer: Sales Costs Taxable income Taxes Net income 16200 10400 5800 2320 3480 Current assets Fixed assets Total 10100 Debt 26500 Equit 36600 Total 16400 20200 36600 4 Payout ratio Tax ratio 30% 21% 10 12 13 14 17.23% 70.0% 13.71- Formulas used: -С7/H4* 100 -100-C9 r(C13*C14)/(1-C13*CIA Return on equity Retention ratio Sustainable growth rate 16 17 Return on Equity Net Income/Equity100 Retention Ratio 100%-Payout Ratio Sustainable Growth Rate ROE b (1- ROE * b) 19 20

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