The following data are taken from the financial statements of Rosen, Inc. as of the end...

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The following data are taken from the financial statements of Rosen, Inc. as of the end...

The following data are taken from the financial statements of Rosen, Inc. as of the end of the year 2016. calculate working capital.

Accounts payable $ 28,000 Net income $ 48,000

Accounts receivable 66,000 Total liabilities 175,000

Cash 24,000 Salaries and wages payable 5,000

Inventory 160,000 Total assets 250,000

business accounting

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Answer 1

Answer #1

Working Capital = $217,000

Working

Current assets
Cash	$ 24,000.00
Accounts receivable (Net)	$ 66,000.00
Inventory	$ 160,000.00
Total current assets		$ 250,000.00
Current liabilities
Salaries and wages payable	$ 5,000.00
Accounts payable	$ 28,000.00
Total current liabilities		$ (33,000.00)
Working capital		$ 217,000.00

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Answer 2

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The following data are taken from the financial statements of Rosen, Inc. as of the end...

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