The Torrey Pine Corporation’s purchases from suppliers in a quarter are equal to 75 percent of the next quarter’s forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 20 percent of sales, and interest and dividends are $90 per quarter. No capital expenditures are planned. 
Projected quarterly sales are shown here: 
Q1  Q2  Q3  Q4  
Sales  $  2,100  $  2,400  $  2,100  $  1,800  
Sales for the first quarter of the following year are projected at $2,430. Calculate the company’s cash outlays by completing the following (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.): 
Q1  Q2  Q3  Q4  
Payment of accounts  $  $  $  $ 
Wages, taxes, other expenses  
Longterm financing expenses (interest and dividends) 

Total  $ 
Answer
Q1 
Q2 
Q3 
Q4 

Payment of accounts 
$1,800 
$1,575 
$1,350 
$1,823 
Wages, taxes, other expenses 
$420 
$480 
$420 
$360 
Longterm financing expenses 
$90 
$90 
$90 
$90 
(interest and dividends) 

Total 
$2,310 
$2,145 
$1,860 
$2,273 
Working
Q1 
Q2 
Q3 
Q4 

Payment of accounts 
=2400*75% 
=2100*75% 
=1800*75% 
=2430*75% 
Wages, taxes, other expenses 
=2100*20% 
=2400*20% 
=2100*20% 
=1800*20% 
Longterm financing expenses 
90 
90 
90 
90 
(interest and dividends) 
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