Gaither Mack Is Preparing Projected Financial Statements to Include in the Business

question 68

Multiple Choice

Gaither Mack is preparing projected financial statements to include in the business plan he is preparing for the launch of a specialty retail store. Using published financial statistics, Mack finds that the typical net profit margin for a store like his is 7.3 percent. If Mack's target income for his first year of operation is $32,000, what level of sales must he achieve to reach it?

• A)$233,600
• B)$438,356
• C)$2,966,400
• D)Cannot be determined from the information provided

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Definitions:

Biologically-Oriented

A perspective or approach that focuses on the biological or genetic factors in the study of organisms or behaviors.

Development

The process of growth or progression through a series of progressive changes, typically from a simpler to a more complex or better state.

Mesosystem

The interlocking settings that influence the child, such as the interaction of the school and the larger community when children are taken on field trips.

Bronfenbrenner

Refers to Urie Bronfenbrenner's ecological systems theory which describes the nested environmental contexts in which a person develops.