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Problem 3-17 Asset Management and Profitability Ratios (LG3-2, LG3-4) You have the following information on Els Putters, Inc.: sales to working capital is 4.6 times,
Problem 3-17 Asset Management and Profitability Ratios (LG3-2, LG3-4) You have the following information on Els Putters, Inc.: sales to working capital is 4.6 times, profit margin is 20 percent, net income available to common stockholders is $5 million, and current liabilities are $6 million. What is the firms balance of current assets? (Enter your answer in millions of dollars rounded to 2 decimal place.)
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