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OBrien Corporation, had the balance sheet shown in Table 5E at the end of last year. The company had net income of $150,000 on sales

OBrien Corporation, had the balance sheet shown in Table 5E at the end of last year. The company had net income of $150,000 on sales of $3,000,000, and paid $50,000 in dividends last year. OBrien is at full capacity and considers all its assets spontaneous. Assume the net profit margin and dividend payout ratio remain the same this year, and that sales are projected to be $3,300,000.

Table 5E OBrien Corporation

Balance Sheet, End-of-last-year (thousands of $)

Current assets

Cash $ 100

Accounts receivable 300

Inventory 250

Total current assets 650

Fixed assets (net) 1,000

Total Assets $ 1,650

Current liabilities

Accounts payable $ 350

Notes payable 100

Accrued payables 100

Total current liabilities 550

Long-term debt 300

Common stock 200

Retained earnings 600

Total Liab. + equity $ 1,650

Using the percentage-of-sales method, what is the forecasted end-of-this-year balance in the notes payable account (in thousands of dollars)?

Group of answer choices

$100

$110

$120

$130

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