The balance sheet of tech track reports total assets of, Ask an Expert

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The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year, respectively. Sales revenues are $1.1 million ($0.8 million in the previous year), net income is $40,000, and net cash flows from operating activities are $50,000. How does Tech Track's cash flow to sales ratio compare to the industry average of 5%?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9974141

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