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Asset buildup?
Philip Morris expects the sales for his clothing company to be $500,000 next year. Philip notes that net assets (Assets - Liabilities) will remain at 50 percent of Sales. His clothing firm will enjoy a 9 percent return on total sales. He will start the year with $100,000 in the bank.
What would Philip's ending cash balance be? |
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Philip Morris is very excited because sales for his clothing company was expected to double from $500,000 to $1,000,000 next year. Philip notes that net assets (assets – liabilities) will remain at 50 percent of sales. His clothing firm will enjoy a 9 percent return on total sales. He will start...
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