The X company is offering services. At the starting point, all capital is USD 500,000,

fully allocated to finance non-current assets (primary non-current assets) whose

linear depreciation will be 15%. In the first year of operation, sales amounted to USD

2 million, with direct costs of services sold representing 65% of sales, and

administrative costs (without depreciation) USD 150,000. 10% corporate income tax

is being paid. It is assumed that customers will pay on average every 18 days, stocks

of materials needed for services rendered accounted for 15% of variable costs. The

liabilities will be settled within 20 days.