Answer:
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.
