Card Sharks, Inc. sells baseball cards and other memorabilia. The company tries to maintain a cash...
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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 Year 1 amounted to $352,000 and the company expects growth in Year 2 of 20% and in Year 3 of 25%. Given the information provided about Card Sharks, what is the company's Year 3 projected year-end cash balance? 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 Year 1 amounted to $352,000 and the company expects growth in Year 2 of 20% and in Year 3 of 25%. Given the information provided about Card Sharks, what is the company's Year 3 projected year-end cash balance?
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Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
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