IUB Corporation Projected a Year End Net Income of $80,000

question 144

Short Answer

IUB Corporation projected a year end net income of $80,000. This net income represented 15% of projected annual sales. What are IUB's projected annual sales? (Round to nearest dollar.)

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Definitions:

Federal Securities Laws

Regulations established by the federal government to govern the sale, purchase, and creation of securities to protect investors from fraud.

State Securities Laws

Regulations established by individual states in the United States to govern the offer and sale of securities to protect investors from fraud.

Exemptions

Specific conditions or circumstances that allow an individual or entity to be relieved from a general requirement or rule.

Section 10(b)

A provision under the Securities Exchange Act of 1934, which prohibits securities fraud and insider trading in the stock market.