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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
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________
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