Question
Philip Morris expects the sales for his clothing company to be $630,000 next year. Philip notes that net assets (Assets ? Liabilities) will remain unchanged.
Philip Morris expects the sales for his clothing company to be $630,000 next year. Philip notes that net assets (Assets ? Liabilities) will remain unchanged. His clothing firm will enjoy a 10 percent return on total sales. He will start the year with $230,000 in the bank.
| What would Philip's ending cash balance be? |
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Inside Company Valuation
Authors: Angelo Corelli
1st Edition
3319537822, 9783319537825
