Apple Two Enterprises Expects to Generate Sales of $5,950,000 for Fiscal

question 28

Multiple Choice

Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2014;sales were $3,450,000 in fiscal 2013.Assume the following figures for the fiscal year ending 2013: cash $70,000;accounts receivable $250,000;inventory $400,000;net fixed assets $520,000;accounts payable $235,000;and accruals $155,000.Use the percent-of-sales method to forecast cash for the fiscal year ending 2014.

• A)$120,725
• B)$75,003
• C)$216,418
• D)$319,604