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Busi 530 Corporate Finance McGraw Hill Connect Home work 7

Paymore Products places orders for goods equal to 80% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows:

Quarter in Coming Year

Following Year

First Second Third Fourth First Quarter

Sales forecast $550 $540 $520 $560 $560

The firm pays for its goods with a 1-month delay. Therefore, on average, three-fourths of purchases are paid for in the quarter that they are purchased, and one-fourth are paid in the following quarter.

Paymore’s customers pay their bills with a 2-month delay. Therefore, on average, two-fourths of sales are collected in the quarter that they are sold, and two-fourths are collected in the following quarter. Assume that sales in the last quarter of the previous year were $520.

Paymore’s labor and administrative expenses are $60 per quarter and that interest on long-term debt is $58 per quarter, work out the net cash inflow for Paymore for the coming year. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations.)

Quarter

First Second Third Fourth

Sources of cash

Collections on accounts receivable

Uses of cash

Payments of accounts payable

Labor & administrative expenses

Interest on long-term debt

Total uses of cash

Net cash inflow

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xxxxxxx xxxxxxxx places orders xxx xxxxx equal xx 80% of its xxxxx xxxxxxxx xx the xxxx xxxxxxxx xxx sales xxxxxxxxx xxx xxx xxxx five quarters are xx xxxxxxxx

xxxxxxxx in Coming xxxx
Following Year
x First Second Third xxxxxxx First Quarter
Sales forecast $550 x $540 x $520 xxxx x x $560

xxx firm pays xxx its goods xxxx x xxxxxxx delay. Therefore, xx average, three-fourths xx purchases xxx paid for xx the quarter that xxxx are purchased, and xxxxxxxxxx are paid in the following xxxxxxxx

xxxxxxxxxxx xxxxxxxxx xxx xxxxx xxxxx with x xxxxxxx delay. xxxxxxxxxx xx xxxxxxxx xxxxxxxxxxx of sales are collected xx the xxxxxxx that they are sold, and two-fourths are collected xx xxx xxxxxxxxx quarter. xxxxxx xxxx sales in the xxxx xxxxxxx of xxx

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