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You have the following information on Els’ Putters, Inc.: sales to working capital is 4.2 times,...

You have the following information on Els’ Putters, Inc.: sales to working capital is 4.2 times, profit margin is 30 percent, net income available to common stockholders is $6.30 million, and current liabilities are $5.6 million. What is the firm’s balance of current assets? (Enter your answer in millions of dollars rounded to 2 decimal places.)

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Answer #1

Sales: Working capital = 4.2:1 Profit margin = 30%, Profit = $ 6.30 million Hence, Sales = $ 6.30 / 30% = $ 21.00 million Wor

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