Philip Morris expects the sales for his clothing company to be $750,000 next year. Philip notes that net assets (Assets - Liabilities) will remain unchanged. His clothing firm will enjoy a 12 percent return on total sales. He will start the year with $350,000 in the bank. What will Philip's ending cash balance be? Ending cash balance Galehouse Gas Stations Inc. expects sales to increase from $1,580,000 to $1,780,000 next year. Galehouse believes that net assets (Assets - Liabilities) will represent 65 percent of sales. His firm has an 8 percent return on sales and pays 30 percent of profits out as dividends. a. What effect will this growth have on funds? The cash balance will b. If the dividend payout is only 5 percent, what effect will this growth have on funds? The cash balance will