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Calculate the total assets of harmon photo company
Course:- Finance Basics
Reference No.:- EM13298369

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Using the AFN formula approach, calculate the total assets of Harmon Photo Company given the following information: Sales this year = \$3,000; sales increase projected for next year = 20%; net income this year = \$250; dividend payout ratio = 40%; projected excess funds available next year = \$100; accounts payable = \$600; notes payable = \$100; and accrued wages and taxes = \$200. Except for the accounts noted, there were no other current liabilities. Assume that the firm's profit margin remains constant and that the company is operating at full capacity.

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