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Use the percent of sales method of preparing pro forma financial statements to determine the projection for next year's accounts receivable. Make the following assumptions:

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Use the "percent of sales method" of preparing pro forma financial statements to determine the projection for next year's accounts receivable. Make the following assumptions: current year's sales are $55,750,000; current year's cost of goods sold is $25,350,000; sales are expected to rise by 25%. The firm's investment in accounts receivable in the current year is $12,600,000. The firm's marginal tax rate is 35%. What is the projection for next year's accounts receivable? $11,345,000 $8.772.000 $10,320,000 $15,750,000

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