ow large a sales increase can the company achieve without having to raise funds externally- that is, what is its self-supporting growth rate?

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Maggie’s Muffins, Inc. generated $5,000,000
in sales during 2013, and its year-end total assets were $2,500,000.  Also, at year-end 2013, current liabilities
were $1,000,000 consisting of $300,000 of notes payable, $500,000 of accounts
payable, and $200,000 of accruals. 
Looking ahead to 2014, the company estimates that its assets must
increase at the same rate as sales, its spontaneous liabilities will increase
at the same rate as sales, its profit margin will be 7%, and its payout ratio
will be 80%.  How large a sales increase
can the company achieve without having to raise funds externally- that is, what
is its self-supporting growth rate?  

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