The Torrey Pine Corporation's purchases from suppliers in a quarter are equal to 60 percent...
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The Torrey Pine Corporation's purchases from suppliers in a quarter are equal to 60 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 25 percent of sales, and interest and dividends are $95 per quarter. No capital expenditures are planned. Projected quarterly sales are Q1 = $1,860, Q2 = $2,160, Q3 = 1,860, Q4 = $1,560. Calculate the company's cash outlay for Q2 $1,736 $1,616 $1,871 $1,362 None of the above
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