20 Hell Saved 3 Exit Submit 5 Check my work Philip Morris expects the sales for his clothing company to be $600,000 next year. Philip 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 $200,000 in the bank. What will Philip's ending cash balance be? Ending cash balance 1 of 19 Next >