Budgeted sales are: Month Sales revenue August $15,000 September $15,000 October $14,000 November $13,000 December $20,000 You collect 50% of sales revenue as cash in the month of the sale, 40% in the following month, and 10% two months after the
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During the latest year, Sky Inc. had total sales of $500,000, net income of 30,000, and its year-end total assets were $250,000. The firm's total debt to total assets ratio was 0.36. You can assume total debt is the same as total liabilities.
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