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samualson samualson
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5 years ago
Use the "percent of sales method" of preparing pro forma financial statements to determine the projection for next year's accounts receivable. Make the following assumptions: current year's sales are $45,450,000; current year's cost of goods sold is $26,950,000; sales are expected to rise by 20%. The firm's investment in accounts receivable in the current year is $8,600,000. The firm's marginal tax rate is 35%. What is the projection for next year's accounts receivable?
A) $11,345,000
B) $10,320,000
C) $9,575,000
D) $8,772,000
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
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DeanaRayDeanaRay
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samualson Author
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5 years ago
Such an awesome helper!
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