You have recently been hired to improve the performance of Maitland Corporation, which has no...
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Accounting
You have recently been hired to improve the performance of Maitland Corporation, which has no idea how the company is performing with cash. In one part of your analysis, you want to determine the firms Net working capital. Using the following information as a 360-day year. Current Inventory = $105,000. Annual Sales = $450,000. The cost of goods sold is 70% of sales Accounts receivable = $95,000. Accounts payable = $15,000. Total annual purchases =$220,000. Purchases credit terms: net 30 days. Receivables credit terms: net
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