9. Calculating Payments [LO3] The Torrey Pine Corporation's purchases from suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 20 percent of sales, and interest and dividends are $90 per quarter. No capital expenditures are planned. Projected quarterly sales are shown here: Q1 Q2 Q3 Q4 Sales $1,670 $2,065 $1,810 $1,530 Sales for the first quarter of the following year are projected at $2,025. Calculate the company's cash outlays by completing the following: Q1 Q2 Q3 Q4 Payment of accounts Wages, taxes, other expenses Long-term financing expenses (interest and dividends) Total 634 Chapter 18 Question 9 Input Area: Purchases (% of sales) Payables period Expenses (% of sales) Interest & dividends per Q Projected sales Q(1) next year 75% 60 days 20% 90 2.025 $ $ Q1 Q2 2.065 $ Q3 1.810 $ Q4 1.530 Sales $ 1.670 $ Output Area: With a payables period of 60 days Q1 Q2 Q3 Q4 Payment of accounts Wages, taxes, other expenses Long-term financing expenses Total 334,00 90,00 413,00 90,00 362,00 90,00 306,00 90,00