Sparkys
Selected Financial Statement data
Fiscal year end	2013 forecast	2012	2011
(amounts in thousands of dollars)
Net sales	$156,763	$125,410	$106,380
Cost of Goods Sold	-130,113	-104,090	-89,359
Gross profit	26,650	21,320	17,021
Inventory	$26,475	$31,353	$30,850
Inventory Turnover	4.5	3.35

PTS: 1

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%.

13. Given the information provided about Card Sharks, what is the companys 2012 projected year-end cash balance?

a.	$966
b.	$50,820
c.	$15,623
d.	$38,524

ANS: B why??