Given Net Income of $50 800 , Total Assets $658 000, Retained earnings $224 400. What...
Given Net Income of $50 800 , Total Assets $658 000, Retained earnings $224 400. What is the Internal Growth Rate?
Homework Answers
Formula for internal growth rate is:
Internal growth rate = (Retained earnings / Net income) * (Net income / Total assets)
Putting the given values in the above equation, we get,
Internal growth rate = ($224400 / $50800) * ($50800 / $658000)
Internal growth rate = (4.41732283464 * 0.07720364741
Internal growth rate = 0.3410 or 34.10%.
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