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What is the likely cash balance for the end of the year

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Eli Lilly is very excited because sales for his nursery and plant company are expected to increase from $690,000 to $1,530,000 next year. Eli's net assets (assets - liabilities) will remain at 50 percent of sales. His firm will enjoy an 8 percent return on total sales. He will begin the year with $110,000 in the bank and is already bragging about the Jaguar and luxury townhouse he will buy.

Problem 1: What is the likely cash balance for the end of the year?

Reference no: EM132819972

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