Exhibit 5-1 $\quad$ $\quad$ $\quad$ $\quad$ $\quad$

Exhibit 5-1
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Cartell Paper Products }$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Balance Sheet }$
$\quad$$\quad$$\quad$$\quad$$\quad$$\text { December 31, } 2012 \text { and } 2011$

$\begin{array}{lrr}&\underline {12/3 1 / 12} & \underline {12/3 1 / 11}\\\text { Current Assets: }\\\text { Cash } & \$ 4,600 & \$ 3,100 \\\text { Accounts Receivable } & 9,600 & 7,900 \\\text { Inventory } & 17,500 & 18,600 \\\text { Supplies } & 1,200 & 2,100 \\\text { Prepaid Insurance } & \underline{1,400} & \underline{1,000} \\\text { Total Current Assets } & 34,300 & 32,700\\\text { Long-term Assets: }\\\text { Fixed Assets }&71,000&58,000 \\\text { Accumulated Depre } &(30,400) &(26,500) \\\text { Patent } &\underline{6,000} &\underline{7,100}\\\text { Total Long-term Assets } &{46,600} &\underline{38,600} \\\text { Total Assets }&\underline{\$ 80,900 }&\underline{\$ 71,300 } \end{array}$
$\begin{array}{lrr}\text { Current Liabilities: }\\\text { Accounts Payable } & \$ 6,100 & \$ 4,900 \\\text { Wages Payable } & 2,200 & 2,600 \\\text { Interest Payable } & 800 & 1,000 \\\text { Taxes Payable } & \underline{2,300 }& \underline{1,600} \\\text { Total Current Liabilities } & 11,400 & 10,100 \\\text { Long-term Liabilities: Bonds Payable } & \underline{20,300} & \underline{24,000} \\\text { Total Liabilities } & \underline{31,700} & \underline{34,100}\\\text { Stockholders' Equity: }\\\text { Common Stock } & 22,700 & 20,000 \\\text { Retained Earnings } & \underline{26,500} & \underline{17,200} \\\text { Total Stockholders' Equity } & \underline{49,200} & \underline{37,200} \\\text { Total Liabilities and Stockholders' Equity } & \underline{\underline{\$ 80,900}} & \underline{\underline{\$ 1,300}}\end{array}$
$\begin{array}{lcl}&\text { Cartell Paper Products}\\ &\text { Income Statement}\\ &\text { For the Year Ended December 31, 2012}\\ \text { Sales }&& \$ 147,600 \\\text { Cost of Goods Sold }&& \underline{63,800}\\\text { Gross Profit }&& {83,800}\\\text { Less Operating Expenses: }\\\text { Wage Expense } & \$ 40,100 \\\text { Supply Expense } & 3,600 \\\text { Insurance Expense } & 3,000 \\\text { Depreciation Expense } & 3,900 \\\text { Amortization Expense } & 1,100 & \\\text { Rent Expense } & \underline{5,400} & \underline{57,100} \\\text { Perating Income } & & \underline{26,700} \\\text { Interest Expense } & & \underline{2,600} \\\text { Income before Taxes } && 24,100 \\\text { Income Tax Expense } & & \underline{10,800}\\\text { Net Income } & & \underline{\$ 13,300}\end{array}$
-Referring to Exhibit 5-1,how much inventory did Cartell Paper Products purchase in 2012?

A) $81,300
B) $63,800
C) $64,900
D) $46,300
E) $62,700