Question
What is the level of cash collections from sales for the firm this month if: - Sales last month and the month before last were
What is the level of cash collections from sales for the firm this month if: - Sales last month and the month before last were $17,000 and $20,000, respectively - Sales this month were $22,000 - Credit sales account for 65% of all sales - The firm gives 30-day terms to 70% of its customers, while the other 30% have 60 days
Last year, Grow Now reported sales of $6 million, net income of $350,000, total assets of $4 million, and total equity of $1 million. If the firm wants to increase sales next year by 10.94 percent and has a dividend payout ratio of 15 percent of earnings, Grow Now's contribution to retained earnings next year will be __________ according to the sustainable growth model.
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