Question

Satelite Corporation projects a year-end net income of $64,722. The net income represents 40% of its projected annual sales. What are Satelite's projected annual sales?

Answer 1

Answer:

The projected annual sales of Satelite Corporation are $ 161,805.

Step-by-step explanation:

Given that Satellite Corporation projects a year-end net income of $ 64,722, and that the net income represents 40% of its projected annual sales, to determine the amount of the projected annual sales of the company the following calculation must be performed:

40 = 64.722

100 = X

(100 x 64,722) / 40 = X

6,472,200 / 40 = X

161.805 = X

Therefore, the projected annual sales of Satelite Corporation are $ 161,805.