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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