Question: Could you help me answer this question please. Sports Essentials Inc, an apparel retailer has seen its revenues and net income increase over the last

Could you help me answer this question please.

Sports Essentials Inc, an apparel retailer has seen its revenues and net income increase over the last 3 years, and it has maintained a dividend payout ratio of 40% of net income:

(the table is attached)

Over the same three year period, Sports Essentials Inc has seen its cash balance decline from $60 million to $20 million. Based on the information provided, estimate how much the firm

reinvested in long term assets and working capital over the 3-year period.

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