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A balance sheet as of December 31 is shown below The firm's sales for the year were and its after-tax margin on sales was

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A balance sheet as of December 31 is shown below The firm's sales for the year were and its after-tax margin on sales was Sales are expected to increase next year to nd it plans to distribute of its net profits to stockholders. In millions In millions Cash Receivables Inventories Net fixed assets Liabilities Accounts Payable Accrued Taxes and wages Mortgage bonds Common Stack

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