Card Sharks, Inc. sells baseball cards and other memorabilia. The company tries to maintain a cash balance equivalent to…

Card Sharks, Inc. sells baseball cards and other memorabilia. The company tries to maintain a cash balance equivalent to…

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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?

Expert Answer:

Answer rating: 100% (QA)

To calculate the Year 3 projected year end cash balance for Card Sharks w
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