Bee Nay has projected sales of 200,000, gross profit rate of 40% and return on sales of 10%. Accounts Receivable is 15% of sales; inventory is 5% of cost of sales. Bee Nay has minimum cash balance of 5,000 and fixed assets of 65,000. What is the total assets requirement?
Bee Nay has projected sales of 200,000, gross profit rate of 40% and return on sales of 10%. Accounts Receivable is 15% of sales; inventory is 5% of cost of sales. Bee Nay has minimum cash balance of 5,000 and fixed assets of 65,000. What is the total assets requirement?
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 1P
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Bee Nay has projected sales of 200,000, gross profit rate of 40% and return on sales of 10%. Accounts Receivable is 15% of sales; inventory is 5% of cost of sales. Bee Nay has minimum cash balance of 5,000 and fixed assets of 65,000. What is the total assets requirement?
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