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Please use the following projections for Top-A1 Inc.: Total sales of $150,000 . Cost of goods sold equal to 76 percent of sales Total expenses
Please use the following projections for Top-A1 Inc.: Total sales of $150,000 . Cost of goods sold equal to 76 percent of sales Total expenses equal to 14 percent of sales Tax rate of 35 percent Beginning equity of $50,000 Beginning inventory of $12,000 Age of ending Inventory of 60 days Minimum cash balance of $10,000 Accounts receivable of 30 days Fixed assets $60,000 Accounts payable of 35 days Assume Top-A1 has a dividend payout of 40 percent and that the projected net earnings are $9,750. Calculate the projected accounts payable for Top-A1. The accounts payable are $ . (Round to the nearest dollar.) Enter your answer in the answer box
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