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Submitted by Asma on Wed, 2012-05-09 11:32
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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.)


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 Products xxxxxx orders xxx goods equal to xxx xx xxx xxxxx forecast xx xxx next xxxxxxxx The sales forecasts xxx the xxxx xxxx quarters are xx xxxxxxxx

Quarter in Coming xxxx

Following xxxx

xxxxxx Second xxxxxx xxxxxxx x First xxxxxxx

xxxxx xxxxxxxxx xxxx x xxxx $520 xxxx x x xxxx

xxx xxxx xxxx for its goods xxxx a xxxxxxx xxxxxx Therefore, on xxxxxxxx three-fourths xx xxxxxxxxx are paid for in xxx quarter xxxx xxxx are xxxxxxxxxx and one-fourth xxx xxxx xx the following xxxxxxxx

xxxxxxxxxxx xxxxxxxxx xxx their xxxxx xxxx a 2-month xxxxxx xxxxxxxxxx on xxxxxxxx two-fourths of xxxxx are collected in the quarter that xxxx xxx sold, and xxxxxxxxxxx xxx collected xx the xxxxxxxxx xxxxxxxx xxxxxx xxxx xxxxx xx the xxxx xxxxxxx of the xxxxxxxx xxxx xxxx $520.

Paymore’s labor xxx xxxxxxxxxxxxxx xxxxxxxx xxx $60 per xxxxxxx and xxxx xxxxxxxx on xxxxxxxxx debt is $58 xxx quarter, work xxx xxx net xxxx inflow for Paymore xxx the xxxxxx year. xxxxxxxxx xxxxxxx xxxxxx be indicated xx x xxxxx xxxxx xx not round xxxxxxxxxxxx xxxxxxxxxxxxxx

x Quarter

xxxxxx Second Third Fourth

xxxxxxx xx cash

xxxxxxxxxxx on accounts xxxxxxxxxxxx 535 $ 545 xx 530 $ 540

Uses xx xxxx

Payments xx xxxxxxxx xxxxxxxxxxx xxxx 440 448

Labor & xxxxxxxxxxxxxx xxxxxxxxxxx xxx xxx 60

Interest xx xxxxxxxxx xxxxxxx xxx xxx 58

Total uses of xxxxxx xxx $ xxx $ xxx xx 566

Net cash xxxxxxxx xxx x

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