Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 11.00

Argon Clothing Inc

The Retailing Division of Argon Clothing Inc. provided the following information on its cash flow from operations:

Net Income $675,000

Increase in accounts receivable (810,000)

Increase in inventory (900,000)

Decrease in accounts payable (135,000)

Depreciation 150,000

Cash flow from operating activities $(1,020,000)

 

The manager of the Retailing Division provided the accompanying memo with this report: From: Senior Vice President, Retailing Division I am pleased to report that we had earnings of $675,000 over the last period. This resulted in a return on invested capital of 10%, which is near our targets for this division. I have been aggressive in building the revenue volume in the division. As a result, I am happy to report that we have increased the number of new credit card customers as a result of an aggressive marketing campaign. In addition, we have found some excellent merchandise opportunities. Some of our suppliers have made some of their apparel merchandise available at a deep discount. We have purchased as much of these goods as possible in order to improve profitability. I’m also happy to report that our vendor payment problems have improved. We are nearly caught up on our overdue payables balances.

Comment on the senior vice president’s memo in light of the cash flow information.

Students are expected to actively participate in the discussion board each week, if applicable. Students are required to post an initial minimum 250 word response

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Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 12:08 AM My Price 11.00

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