Question
A company currently has $50 million in sales, $23 million in current assets, $39 million in fixed assets, and $15 million in accounts payable. The
A company currently has $50 million in sales, $23 million in current assets, $39 million in fixed assets, and $15 million in accounts payable. The fixed assets are currently operated with full capacity and will change proportionally with the sales growth.
Sales are projected to be $70 million, fixed assets are projected to be $54.6 million, and accounts payable are projected to be $21.0 million.
What are current assets projected to be, given this information?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
