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elena-s [515]
3 years ago
13

Exeter Enterprise Inc. reported net sales of $250 million last year and generated a net income of $55.00 million. Last year’s ac

counts receivable increased by $35 million. What is the maximum amount of cash that Exeter Enterprise Inc. received from sales last year?
Business
1 answer:
MArishka [77]3 years ago
5 0

Answer:

The maximum amount of cash that Exeter Enterprise Inc. received from sales last year is $20 million

Explanation:

Net Income = $55 million

Increase in receivable = $35 million

Net Sales = $250 million

Cash Received from sales = Net Income - increase in receivables

Cash Received from sales = $55 million - $35 million

Cash Received from sales = $20 million

The maximum amount of cash that Exeter Enterprise Inc. received from sales last year is $20 million

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This will be a good option for the conservative investor because real estate investment is stable and not prone to huge losses that can be incurred in the money markets. Also real estate is not affected by equities market. So will be a safety net in case of failure in the equity market.

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dangina [55]
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