Sales forecasts. For the prior three years, sales for California Cement Company have been $19,912,000 (2011), $21,138,000 (2012), and $22,821,000 (2013). The comapny uses the prior two years' average growth rate to predict the coming year's sales. What were the sales growth rates for 2012 and 2013? What is the expected sales growth rate using a two-year average for 2014? What is the sales forecast for 2014? What was the sales growth rate for 2012? % (Round to two decimal places.) What was the sales growth rate for 2013? % (Round to two decimal places.) What is the expected sales growth rate using a two-year average for 2014? % (Round to two decimal places.) What is the sales forecast for 2014? $ (Round to the nearest dollar.)
Sales forecasts. For the prior three years, sales for California Cement Company have been $19,912,000 (2011), $21,138,000 (2012), and $22,821,000 (2013). The comapny uses the prior two years' average growth rate to predict the coming year's sales. What were the sales growth rates for 2012 and 2013? What is the expected sales growth rate using a two-year average for 2014? What is the sales forecast for 2014? What was the sales growth rate for 2012? % (Round to two decimal places.) What was the sales growth rate for 2013? % (Round to two decimal places.) What is the expected sales growth rate using a two-year average for 2014? % (Round to two decimal places.) What is the sales forecast for 2014? $ (Round to the nearest dollar.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:**Sales Forecasts**
For the prior three years, sales for California Cement Company have been $19,912,000 (2011), $21,138,000 (2012), and $22,821,000 (2013). The company uses the prior two years' average growth rate to predict the coming year's sales. What were the sales growth rates for 2012 and 2013? What is the expected sales growth rate using a two-year average for 2014? What is the sales forecast for 2014?
1. **What was the sales growth rate for 2012?**
- _____% (Round to two decimal places.)
2. **What was the sales growth rate for 2013?**
- _____% (Round to two decimal places.)
3. **What is the expected sales growth rate using a two-year average for 2014?**
- _____% (Round to two decimal places.)
4. **What is the sales forecast for 2014?**
- $_____ (Round to the nearest dollar.)
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