is preparing its report to investors and one of the items they are looking for is the value of the company. The future sales is expected to increase by 5% in 2020. CGS and depreciation are expected to grow with sales during this period. The effective tax rate is 33%. Below are some selected financial data for year 2019 (actual).

	2019
Revenues	$100,000
CGS	$55,000
Depreciation	$11,000
A/R	$25,000

What is the net operating profit after tax (NOPAT) in 2020? A. $22,780 B. $23,919 C. $24,514 D. $31,518 E. None of the above

The company wants to adjust its days of sale outstanding to 60 days, what is the expected amount of account receivables in 2020? (Please use 365 days for a year). A. $22,956 B. $17,260 C. $16,932 D. $22,350 E. None of the above