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Sales for the first quarter of the year after this one are projected at $250 million. Accounts Receivable at the beginning of the year were $79...
Sales for the first quarter of the year after this one are projected at $250 million. Accounts Receivable at the beginning of the year were $79 million. Wildcat has a 45 day collection period.Wildcat’s purchases from suppliers in a quarter are equal to 45 percent of the next quarter’s forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 30 percent of sales. Interest and dividends are $15 million per quarter. Wildcat plans a major capital outlay in the second quarter of $90 million. Finally, the company started the year with a $73 million cash balance and wishes to maintain a $30 million balance.
