Joe Collectibles projects revenues of $20 million, operating expenses of $10 million, and taxes of $2 million for the coming year:alculate projected net cash flow for this coming year.

Joe Collectibles projects revenues of $20 million, operating expenses of $10 million, and taxes of $2 million for the coming year. Projected operating expenses include depreciation of $1.2 million. Joe Collectibles plans to make $0.75 million capital investments during the period, and it anticipates the following changes in its working capital accounts:

Beginning End
Accounts Receivable $1.5m $2.7m
Inventory 0.5m 2.2m
Less: Accounts Payable
Net Working Capital 0.1m
$1.9m 0.4m
$4.5m

Calculate projected net cash flow for this coming year.

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