Card Sharks, Inc.
Card Sharks, Inc.sells baseball cards and other memorabilia.The company tries to maintain a cash balance equivalent to approximately 30 days of sales.Sales in 2011 amounted to $352,412 and the company expects growth in 2012 of 30% and in 2013 of 35%.
-Given the information provided about Card Sharks,what is the company's 2012 projected year-end cash balance?
A) $966
B) $50,820
C) $15,623
D) $38,524

Question

Quizplus · Accepted Answer

$\begin{array}{crcc}
&\text { Annual } &\text { Average }&\text { Days Sales }&\text { Year-end } \
&\text { Sales }&\text { Sales/Day }&\text { in Cash }&\text { Cash Bal. }\
\hline 2011&\$ 352,412 & \text { Sales/365 } & \text { Given } & \text { Sales/Day }{ }^{*} 30 \
2012&\$ \$ 458,135 & 1255 & 30 & \$ 37,654 \
2013&\$ 618.482 & 1694 & 30 & 50.820
\end{array}$

Card Sharks, Inc. Card Sharks, Inc.sells Baseball Cards and Other Memorabilia.The Company Tries