2017 2016 GM Corporation (Sin millions BALANCE SHEETS ASSETS Cash & marketable securities Accounts receivable Inventories Total current assets Nesfued assets Totale 540,000 260.000 500,000 300,000 400,000 $1.200,000 550,000 200.000 450,000 700,000 300,000 $1,000,000 LIABILITIES & EQUITY Accounts payable Bank loan Accra Total current liabilities Long-term debit Other liabilities Common stock Retained earning Totalbes & equity $170.000 90.000 70.000 330,000 400 000 0 350,000 120 000 5. 1200,000 $130,000 90.000 50 000 270,000 300.000 0 350.000 80.000 $1,000,000 INCOME STATEMENTS 2017 $1.500.000 900.000 600.000 2016 $1.300.000 780,000 520,000 Sales Cost of goods sold Gross profit Operating expenses Selling general admin Marketing Depreciation Interest Earnings before taxes Income Net income 150.000 150,000 57.000 190.000 75.000 5114.000 150.000 130,000 40,000 45,000 155.000 62.000 593,000 Which of following is true? The dollar amount of net working capital rose in 2017 but the current ratio fell, indicating that current liability rose slower than current assets. Accounts receivable rose, in part because of higher 2017 sales and in part because of customers' faster payments. Inventory management apparently improved as inventory turnover rose in 2017. The dollar amount of net working capital 800,000 700.000 inventores Tocal current assets Netfonds Total assets $1.200.000 SU000.000 LIABILITIES & EQUITY Accounts payable Bank loan $170.000 90.000 70,000 330,000 400.000 0 $130 DOO 90.000 50.000 270.000 300.000 Total current liabilities Long-term debit Other abilities Common stock Retained earnings Toallabies & equity 120.000 5.1200.000 80.000 $1.000.000 INCOME STATEMENTS 2017 $1,500,000 900,000 600,000 2016 51.300.000 700.000 520.000 Sales Cost of goods sold Gross profit Operating expenses Selling general admin, Marketing Depreciation Interest Earnings before Income taxes Net income 150.000 190.000 40 000 150,000 150,000 53,000 57.000 190,000 76,000 5114.000 155.000 593,000 Which of following is true? The dollar amount of net working capital rose in 2017 but the current ratio fell, indicating that current liability rose slower than current assets. Accounts receivable rose, in part because of higher 2017 sales and in part because of customers' faster payments. Inventory management apparently improved as inventory turnover rose in 2017. The dollar amount of net working capital rose in 2017 and the quick ratio increase, indicating that current liability rose not faster than current assets