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Royal Corporation has prepared pro forma financial statements for 2014, based on actual financial statements for 2013. If capital expenditures are planned to be $1,615
Royal Corporation has prepared pro forma financial statements for 2014, based on actual financial statements for 2013. If capital expenditures are planned to be $1,615 in 2014 and depreciation expense was $1,000 in 2014 then what would be the appropriate projection for net fixed assets in 2014? (Royal Corp. assumed a sales growth rate of 10% for 2014. The firm used the percent-of-sales method to estimate all income statement items.
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