Stats Solutions

[Solution] Quesada Corporation reported net income of $4 million on sales of $100 million. It retained 50% of net income. A summary of Quesada's ending

Question: Quesada Corporation reported net income of $4 million on sales of $100 million. It retained 50% of net income. A summary of Quesada's ending balance sheet (in millions) is shown below:

Current Assets $20 Current Liabilities $10

Long-Term Liabilities 20

Fixed Assets 40 Equity 30

Total $60 Total $60

If the firm's beginning equity was $28, calculate Quesada's sustainable growth rate.

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