Gross profit margin is 40%, tax rate is 30%:
Sales year 1: 45000, year 2: 54000, year 3: 64800 (is year 3 correct at being a 20% increase?)
I need to calculate the following:
Cost of goods sold for year 3 given that:
selling, general, and admin expenses are: 7150; depreciation is 2500; interest expense is 1250 all for year three; accounts receivable year 1: 15000, year 2: 12,500; net plant, property and equipment is year 1: 12500 and need to calculate year 2.
I need help calculating the cost of good sold, the tax expense, cash collected from sales (which I think is 52300), and net plant, property and equipment for year 3.
I am also
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