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5 (3 points) Bonus Question (3 Marks) Moonlight company reported a net income of $7,500 on sales of $100,000 for the 2020 fiscal year. The
5 (3 points) Bonus Question (3 Marks) Moonlight company reported a net income of $7,500 on sales of $100,000 for the 2020 fiscal year. The company has $250,000 in assets, all of which vary directly with sales. The expected growth rate in sales for the upcoming year is 15%. Accounts Payable and Accruals account for 40% of the firms $70,000 in total liabilities. The company's policy is to pay out 32% of profits as dividends to common shareholders
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