Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I In your business, assets, and liabilities have historically varied with sales. Assets are usually 84percent of sales, and liabilities are usually 46percent of sales.Your

I In your business, assets, and liabilities have historically varied with sales. Assets are usually 84percent of sales, and liabilities are usually 46percent of sales.Your sales next year will be $213,000 which representsan increase of $44,000. Your profit margin is 11.53 percent.You anticipate that you will have an 36owner payout of net profit. Using the percentage of sales method, determine theamountof additional financing or surplus for your business next year.(answer to two decimal places,negative numbers start with -)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To determine the amount of additional financing or surplus for your business next year using the per... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Document Format ( 2 attachments)

PDF file Icon
66423badd87fb_984214.pdf

180 KBs PDF File

Word file Icon
66423badd87fb_984214.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

Concise 6th Edition

324664559, 978-0324664553

More Books

Students also viewed these Finance questions

Question

What is a personnel action form?

Answered: 1 week ago