Professional Documents
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Liquidity: Liquidity constraints are near term and open-ended with respect to support for
Philips’ mother:
Pay off auto loan
Establish £30,000 cash reserve
Provide €12,000 annual support for mother (£10,000 equivalent)
Purchase house in 2 years for £360,000
Question 2, Exhibit 2.2 Clarification: Total budget should sum to $17.0 mm. Explanation remains the same.