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Oscar's Incredible Eatery $($ $ thousands $)$

Income Statement for the year ending December $31, 2021$

Net sales $17, 300$

Cost $o f$ goods sold $10, 600$

Depreciation $3, 250$

Earnings before interest and taxes $3, 450$

Interest expense $680$

Earnings before tax $2, 770$

Tax $940$

Earnings after tax $1, 830$

Dividends $450$

Oscar's Incredible Eatery $($ $ thousands $)$

Balance Sheet $a s o f$ December $31, 2021$

Cash $350$ Accounts payable $1, 920$

Accounts receivable $940$ Long $-$ term debt $3, 500$

Inventory $2, 360$ Common stock $7, 500$

Total current assets $3, 650$ Retained earnings $1, 580$

Net fixed assets $10, 850$

Total assets $14, 500$ Total liability & equity $14, 500$

Please refer $t o$ Oscar $s$ financial statements above. All $o f$ Oscar $s$ costs and current asset accounts vary directly with sales. Sales are projected $t o$ increase $b y 10 %$ next year. What $i s$ the pro forma accounts receivable balance for next year?

Multiple Choice

$ $949$

$ $1, 034$

$ $1, 113$

$ $1, 730$

$ $2, 670$

None $o f$ the options are correct.

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