The amount of working capital that would remain if $400 of land was purchased on January 1, 2010, with the use of $200 cash and $200 of long-term debt is

a. $200.

b. $400. C. $600.

d. $900.

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BAREFOOT INDUSTRIES Balance Sheet and Income Statement Data At December 31, 2009, and for the Year Then Ended Assets Cash.... Accounts receivable. Merchandise inventory. Land Equipment.. Accumulated depreciation. $ 400 440 360 100 300 (100) Liabilities and Owners' Equity Accounts payable.. $ 300 Notes payable, short-term. 500 Long-term debt.. 200 100 400 Common stock Retained earnings Income Statement Sales... $3,000 Cost of goods sold (2,000) Gross profit. 1,000 Selling expenses. (500) Income taxes. Net income. (200) 300