You have been running your small business, Craft’s Boat Shop, for several years now and have been very successful. You have come to the point where you expect sales to increase next year and want to be sure that you have enough assets available to support your sales. You also need to have the financing available to acquire those assets, if needed.
Accordingly, you have gathered the following data:
Need assignment help for this question?
If you need assistance with writing your essay, we are ready to help you!
Why Choose Us: Cost-efficiency, Plagiarism free, Money Back Guarantee, On-time Delivery, Total Сonfidentiality, 24/7 Support, 100% originality
Craft’s Boat Shop
|Sales Last Year||
|Assets at the End of Last Year||
|Profit Margin on Sales||
Note: All figures are as of the end of last year
- If you need $0.80 in assets for every $1.00 in sales, by how much can sales increase without obtaining additional outside financing? HINT: Use the AFN formula.