Question

Satelite Corporation projects a year-end net income of $64,722. The net income represents 40% of its projected annual sales. What are Satelite's projected annual sales?

Answer 1

The projected annual sales of Satelite Corporation is $161,805.

Step-by-step explanation:

To find the projected annual sales of Satelite Corporation, we can use the fact that the net income represents 40% of the projected annual sales. We can set up the equation:

Net Income = (Percentage/100) x Sales

Given that the net income is $64,722 and the percentage is 40%, we can substitute these values into the equation:

$64,722 = (40/100) x Sales

To find the projected annual sales, we can rearrange the equation:

Sales = $64,722 / (40/100)

Sales = $64,722 / 0.40

Sales = $161,805

Answer 2

The projected annual sales of Satelite Corporation are $ 161,805.

Step-by-step explanation:

Given that Satellite Corporation projects a year-end net income of $ 64,722, and that the net income represents 40% of its projected annual sales, to determine the amount of the projected annual sales of the company the following calculation must be performed:

40 = 64.722

100 = X

(100 x 64,722) / 40 = X

6,472,200 / 40 = X

161.805 = X

Therefore, the projected annual sales of Satelite Corporation are $ 161,805.