The strongest brands do not engage customers on a deep, emotional level

Use the "percent of sales method" of preparing pro forma financial statements to determine the

projection for next year's accounts payable. Make the following assumptions: current year's sales are $27,800,000; current year's cost of goods sold is $17,528,000; sales are expected to rise by 30%. The firm's investment in accounts payable in the current year is $2,218,500. What is the projection for next year's accounts payable? A) $3,781,750 B) $2,884,050 C) $4,184,000 D) $2,127,000

Environmental factors can lead the business owner to evaluate and change his or her business

plans. An industry that recently underwent a major shift in marketing due to technological change and new competition, according to the textbook, is A) the oil industry. B) the automobile industry. C) the fast food industry. D) the convenience store industry. E) the cereal industry.