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The most recent financial statements for Fleury, Inc. are as follows: FLEURY, INC. 2019 Income Statement Sales $891,600 Cost of sales 693,600 Gross Profit $198,000

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The most recent financial statements for Fleury, Inc. are as follows: FLEURY, INC. 2019 Income Statement Sales $891,600 Cost of sales 693,600 Gross Profit $198,000 Operating expenses 18,240 Earnings before Interest and Taxes $179,760 Interest Paid 13,400 Taxable income $166,360 Taxes (21%) 34,936 Net Income $131,424 Dividends $35,684 Addition to retained earnings 95,740 Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash S24,280 Accounts payable S65,200 Accounts receivable 37,070 Notes payable 16,320 Inventory 83,400 total $81,520 Total $144,750 Long-term debt $155,000 Fixed assets Owners' equity Net plant and equipment S396,500 Common stock and paid-in surplus S130,000 Retained earnings. 174,730 Total S304,730 Total assets S541,250 Total liabilities and owners' equity S541,250 a. If sales for 2020 are projected to grow by 20%, how much is the projected sales in 2020? b. If gross margin remains constant, how much is the projected cost of sales in 2020? c. If receivable turnover remains constant, how much is the projected accounts receivable in 2020? d. If accounts payable remains constant, how much is the projected accounts payable in 2020

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