Franck Eggelhoffer expects the sales for his clothing company to be $650,000 next year. Franck notes that
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Franck Eggelhoffer expects the sales for his clothing company to be $650,000 next year. Franck notes that net assets (Assets – Liabilities) will remain unchanged. His clothing firm will enjoy a 12 percent return on total sales. He will start the year with $250,000 in the bank. What will Franck's ending cash balance be?
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Foundations Of Financial Management
ISBN: 9781264097623
18th Edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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