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1 . Apple Two Enterprises expects to generate sales of $ 5 , 9 5 0 , 0 0 0 for fiscal 2 0 1

1. Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2018; sales were $3,450,000 in fiscal 2017. Assume the following figures for the fiscal year ending 2017: net current assets $700,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000. Use the percent-of-sales method to forecast cash for the fiscal year ending 2018.

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