A firm’s balance sheets for year-end 2016 and 2017 contain the following data. All items are...
A firm’s balance sheets for year-end 2016 and 2017 contain the following data. All items are in millions of dollars.
| Dec. 31, 2016 | Dec. 31, 2017 | |||||
| Accounts receivable | 33.6 | 36.8 | ||||
| Inventories | 26.6 | 30.8 | ||||
| Accounts payable | 13.6 | 26.8 | ||||
What happened to investment in net working capital during 2017? (Enter your answer in millions.)
Homework Answers
Increase in Accounts receivable =36.8-33.6 =3.2
Increase in inventories =30.8-26.6 =4.2
Increase in accounts payable =26.8-13.6 = 13.2
Net working capital inflow=3.2+4.2-13.2 =5.8 million
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