Please show work for rating The 2013 financial statements of

Please show work for rating

The 2013 financial statements of CVS Caremark reported sales of $126,761 million and accounts receivable of $8,729 million. If sales are projected to increase 3% next year, what is the projected accounts receivable balance for 2014?

Solution

Projected accounts receivable:

= Accounts receivable×(1+3%)

= $8,729 million×(1+3%)

= $8,990.87 million