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What should be the percent increase in sales

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Problem 1: Hilarious Profits, Inc. (HPI) earned a profit of 20% on sales of $30,000,000. Its balance sheet shows total assets of $10,000,000. If HPI wants to achieve a Total Asset Turnover of 4.5, what should be the percent increase in sales from the current level assuming no change in assets? (Answers are rounded)

A.50%
B.47%
C.43%
D.40%
E.37%
F.33%
G.30%
H.27%

Reference no: EM132763221

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