19 Feb Cash FlowRoosevelt Inc., a consulting service, has
Cash FlowRoosevelt Inc., a consulting service, has a history of paying annual dividends of $1 per share.Management is trying to determine whether the company will have adequate cash on December 31,2009, to pay a dividend if one is declared by the board of directors. The following additionalinformation is available: All sales are on account, and accounts receivable are collected one month after the sale. Salesvolume has been decreasing 5% each month. Operating expenses are paid in cash in the month incurred. Average monthly expenses are$10,000 (excluding the biweekly payroll). Biweekly payroll is $4,500, and it will be paid December 15 and December 31. Unearned revenue is expected to be earned in December. This amount was taken into considerationin the expected sales volume.RequiredDetermine the cash that Roosevelt will have available to pay a dividend on December 31, 2009.Round all amounts to the nearest dollar. Should management recommend that the board of directorsdeclare a dividend? Explain
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