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OBrien Corporation, had the balance sheet shown in Table 5E at the end of last year. The company had net income of $150,000 on sales
OBrien Corporation, had the balance sheet shown in Table 5E at the end of last year. The company had net income of $150,000 on sales of $3,000,000, and paid $50,000 in dividends last year. OBrien is at full capacity and considers all its assets spontaneous. Assume the net profit margin and dividend payout ratio remain the same this year, and that sales are projected to be $3,300,000. (nothing in this top statement changed from the previous question, no tricks) Table 5E OBrien Corporation Balance Sheet, End-of-last-year (thousands of $) Current assets Cash $ 100 Accounts receivable 300 Inventory 250 Total current assets 650 Fixed assets (net) 1,000 Total Assets $ 1,650 Current liabilities Accounts payable $ 350 Notes payable 100 Accrued payables 100 Total current liabilities 550 Long-term debt 300 Common stock 200 Retained earnings 600 Total Liab. + equity $ 1,650 Using the percentage-of-sales method, what is the forecasted end-of-this-year balance in the accounts receivable account (in thousands of dollars)
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