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 2013 projected cash balance?
A) $53,934
B) $49,524
C) $21,873
D) $50,820

Question

Quizplus · Accepted Answer

$\begin{array}{crcc}
&\text { Annual } &\text { Average }&\text { Days Sales }&\text { Year-end } \
&\text { Sales }&\text { Sales/Day }&\text { in Cash }&\text { Cash Bal. }\
\hline 2011&\$ 352,412 & \text { Sales/365 } & \text { Given } & \text { Sales/Day }{ }^{*} 30 \
2012&\$ 468,708 & 1,284 & 30 & \$ 38,524 \
2013&\$ 656.191 & 1,798 & 30 & \$ 53.934\
\end{array}$

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