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1. What was the sales volume in the current quarter if beginning accounts receivable, at $5,300, was $1,000 higher than ending, and $23,000 was collected?
$23,000
$27,300
$22,000
$24,000
2. A firm's sustainable growth rate represents the:
percentage change in sales times the profit margin.
possible growth without jeopardizing net working capital.
highest growth rate without decreasing the dividend.
highest growth rate without increasing financial leverage.
3. What is the sustainable growth rate for a firm with net income of $2.90 million, cash dividends of $1.90 million, and return on equity of 16%? (Do not round intermediate calculations.)
9.12%
1.32%
5.52%
3.72%
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