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please help figured out last posted question on my own. however can't delete. 7. Grossman Industries' sales were $900,000 at the end of last year,
please help figured out last posted question on my own. however can't delete.
7. Grossman Industries' sales were $900,000 at the end of last year, sales are expected to grow by 10%, and Grossman expects to maintain its current profit margin of 7% and dividend payout ratio of 30%. The firm's total assets equaled $400,000 and were operated at full capacity. Grossman's balance sheet shows the following current liabilities: accounts payable of $45,000, notes payables of $25,000 and accrued liabilities of $45,000. Based on the AFN equation, What is the firm's AFN for 2006Step by Step Solution
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