Calculate the total assets of Premiere Company given the following information: Sales this year P3,000,000 Sales increase projected for next year 20 percent Net income this year P 250,000 Dividend payout ratio 40 percent Projected excess funds available next year P 100,000 Accounts payable P 600,000 Notes payable P 100,000 Accrued wages and taxes P 200,000 Except for the accounts noted, there were no other current liabilities. Assume that the firm's profit margin remains constant and that the company is operating at full capacity. Select the correct response: 2,200,000 3,000,000 O 1,200,000 2,000,000

Calculate the total assets of Premiere Company given the following information: Sales this year P3,000,000 Sales increase projected for next year 20 percent Net income this year P 250,000 Dividend payout ratio 40 percent Projected excess funds available next year P 100,000 Accounts payable P 600,000 Notes payable P 100,000 Accrued wages and taxes P 200,000 Except for the accounts noted, there were no other current liabilities. Assume that the firm's profit margin remains constant and that the company is operating at full capacity. Select the correct response: 2,200,000 3,000,000 O 1,200,000 2,000,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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