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Problem 4 - 2 7 ( Algo ) Percent - of - sales method [ LO 4 - 3 ] Owen's Electronics has nine operating
Problem Algo Percentofsales method LO
Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $ million, and the balance sheet at yearend is similar in percentage of sales to that of previous years and this will continue in the future All assets including fixed assets and current liabilities will vary directly with sales. The firm is working at full capacity.
tableBalance,Sheet in $ millionsAssetsLiabilities and Stockholders' Equity,Cash$Accounts payable,$
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