Business, 03.04.2020 00:39 prettyluhangel

The Torrey Pine Corporation’s purchases from suppliers in a quarter are equal to 70 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 $80 per quarter. No capital expenditures are planned. Projected quarterly sales are shown here. Q1 Q2 Q3 Q4Sales $2,100 $2,400 $2,100 $1,800Sales for the first quarter of the following year are projected to be $2,430. Complete the company's cash outlays by completing the following table. Q1 Q2 Q3 Q4Payment of accounts Wages, taxes, other expenses 420 480 420 360Long-term financing expenses ( interest and dividends) 90 90 90 90Total

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