Pro Forma Balance Sheet for Ideko, 2010-2015

	Year	2010	2011	2012	2013	2014	2015
Balance Sheet ($ 000)
Assets
1 Cash and Cash Equivalents		6,164	7,262	8,485	9,845	11,355	13,030
2 Accounts Receivable		18,493	14,525	16,970	19,689	22,709	26,059
3 Inventories		6,165	6,501	7,613	8,854	10,240	11,784
4 Total Current Assets		30,822	28,288	33,067	38,388	44,304	50,872
5 Property, Plant, and Equipment		49,500	49,050	48,645	61,781	69,102	69,392
6 Goodwill		72,332	72,332	72,332	72,332	72,332	72,332
7 Total Assets		152,654	149,670	154,044	172,501	185,738	192,597
Liabilities
8 Accounts Payable		4,654	5,532	6,648	7,879	9,110	10,448
9 Debt		100,000	100,000	100,000	115,000	120,000	120,000
10 Total Liabilities		104,654	105,532	106,648	122,879	129,110	130,448
Stockholders' Equity
11 Starting Stockholders' Equity			48,000	44,138	47,396	49,621	56,628
12 Net Income			5,193	6,247	6,960	8,382	10,545
13 Dividends		(2,000)	(9,055)	(2,989)	(4,735)	(1,375)	(5,024)
14 Capital Contributions		50,000	---	---	---	---	---
15 Stockholders' Equity		48,000	44,138	47,396	49,621	56,628	62,149
16 Total Liabilities and Equity		152,654	149,670	154,044	172,501	185,738	192,597

!.) With the proper changes it is believed that Ideko's credit policies will extend a 60 days credit period to accounts receivables. The forecasted accounts receivable for Ideko in 2012 is closest to

A.) $14,525

B.) $16,970

C.) $22,710

D.) $19,690