1. CU Tech expects sales next year will be $4.8 million, a 25% increase over current sales. CU has total assets of $2.24 million, and all assets will increase proportionately with sales. CU has $1.49 million in current liabilities and a current ratio of 1.60 to 1. What total financing will CU need to support the expected sales increase?
A. $234,400
B. $187,500
C. No financing needed, surplus of $139,700
D. $48,800
2. For the past year, Coach, Inc., had a cost of goods sold of $62,882. At the end of the year, the accounts payable balance was $12,989. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days’ sales in payables