Asset Management and Profitability Ratios
You have the following information on Els’ Putters, Inc.: sales to working capital is 5.1 times, profit margin is 30 percent, net income available to common stockholders is $9.00 million, and current liabilities are $6.5 million.
What is the firm’s balance of current assets? (Enter your answer in millions of dollars rounded to 2 decimal places.)
Current assets $ m