financeThe Torrey Pine Corporation’s buys from suppliers in a quarter are equal to 75% of the next quarter’s forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 20 percent of sales, and interest and dividends are $90 per quarter. No capital expenditures are planned.
Projected quarterly sales are shown here:
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| | Q1 | Q2 | Q3 | Q4 |
|-------|:------:|:------:|:------:|:------:|
| Sales |$1,970 | $2,315 |$1,930 | $1,740 |
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Sales for the first quarter of the following year are projected at$2,380. Calculate the company’s cash outlays by completing the following:
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| | Q1 | Q2 | Q3 | Q4 |
|-------------------------------------------------------|:--:|:--:|:--:|:--:|
| Payment of accounts | | | | |
| Wages, taxes, other expenses | | | | |
| Long-term financing expenses (interest and dividends) | | | | |
|  Total | | | | |
</center> 23rd EditionDavid Twomey, Marianne Jennings, Stephanie Greene369 solutions

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