From the information given below,prepare a November income statement,a November statement of retained earnings,and a November 30 balance sheet.On November 1 of the current year,Victoria Garza,the sole stockholder,began Garza Décor with an initial investment of $50,000 cash.On November 30,her records showed the following (alphabetically arranged)items and amounts.
Definitions:
Maximum Rate of Growth
The highest possible expansion rate that a business can achieve without obtaining additional financing from external sources.
Sustainable Rate Of Growth
The maximum rate at which a company can grow its revenues without needing to obtain additional financing.
Profit Margin
A financial metric indicating the percentage of revenue that exceeds the costs of goods sold, representing the proportion of sales that turns into profit.
Dividend Payout Ratio
The percentage of earnings paid to shareholders in dividends, calculated by dividing the total dividends by the net income for the same period.
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