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Question - Henderson Office Supply is considering a more liberal credit policy to increase sales but expects that 5 percent of the new accounts will be uncollectible. Collection costs are 2 percent of new sales, production and selling costs are 75 percent, and accounts receivable turnover is two times. Assume income taxes of 30 percent and an increase in sales of $61,000. No other asset buildup will be required to service the new accounts.
Required -
a. What additional investment in accounts receivable is needed to support this sales expansion?
b. What would be Henderson's incremental after tax return on investment?
c. Should Henderson liberalize credit if a 19 percent after-tax return on investment is required?
Calculate sales volume needed to make $200,000 in net income. Calculate the forecast direct material cash payments by month.
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