Tulley Appliance financial forecasting; Johnson Enterprises cost of receivables, credit
Tulley Appliance Inc. projects next year's sales to be $20 million. Current sales are 15 million, based on current assets of $5 million and fixed assets of $5 million. The firm's net profit margin is 5 percent after taxes. Tulley forcasts that its current assets will rise in direct proportion to increase in sales, but that its f