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Galehouse Gas Stations Inc. expects sales to increase from $1,710,000 to $1,910,000 next year. Galehouse believes that net assets (Assets - Liabilities) will represent 45 percent of sales. His firm has an 8 percent return on sales and pays 20 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 15 percent, what effect will this growth have on funds? The cash balance will Prey 1 of 5 Next > J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September (actual) $ 61,000 Fourth Quarter October $ 51,000 November 46,000 December 71,00 Experience has shown that 35 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and O percent are never collected. Prepare a schedule of cash receipts for J.Lo's Clothiers covering the fourth quarter (October through December). J. Lo's Clothiers September October November December Credit sales In month of sales One month after sales Total cash receipts