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The Torrey PIne Corporation's purchases from suppliers in a quarter are equal to 70 percent of the next quarter's forecast sales. The payables perlod is
The Torrey PIne Corporation's purchases from suppliers in a quarter are equal to 70 percent of the next quarter's forecast sales. The payables perlod is 60 days. Wages, taxes, and other expenses are 25 percent of sales, and interest and dividends are $80 per quarter. No capltal expenditures are planned. Projected quarterly sales are shown here: Sales for the first quarter of the following year are projected at $2,130. Calculate the company's cash outlays by completing the following: (Do not round Intermedlate calculations and round your answers to 2 declmal places, e.g., 32.16.)
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