Philip Morris is excited because sales for his clothing company are expected to double from…

Philip Morris is excited because sales for his clothing company are expected to double from…

Philip
Morris is excited because sales for his clothing company are expected
to double from $500,000 to $1,000,000 next year. Philip notes that net
assets (Assets – Liabilities) will remain at 50 percent of Sales. His
clothing firm will enjoy a 9 percent return on total sales. He will
start the year with $100,000 in the bank and is already bragging about
the two Mercedes he will buy and the European vacation he will take.

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