3) How much was invested in Net Operating Working Capital (NOWC) between 2016 and 2017? a) 170 b) 2,670 c) 3,670 d) 770 Use the following financial statements to complete questions 1-10. Balonce Sheet 2017 2016 P&L 2017 Assets Net Sales 18,500 Current Assets COGS (9,500) Cash 700 800 Gross Income 9,000 Marketable Securities 400 250 Accounts Receivable 1,300 1,000 Depreciation (450) Inventory 2,100 1,500 Marketing (1,100) Total Current Assets 4,500 3,550 R&D (850) Fixed Assets SG&A (1,500) Net PP&E 8,800 7,500 EBIT 5,100 Goodwill 200 200 Total Fixed Assets 9,000 7,700 Interest Expense (800) Total Assets 13,500 11,250 EBT 4,300 Liabilities & Owners' Equity Provision for Taxes (1,000) Current Liabilities Net Income 3,300 Accounts Payable 350 250 Deferred Revenue 180 100 Notes Payable 300 200 Current Portion of LTD 1,000 500 Total Current Liabilities 1,830 1,050 Long-Term Debt 7,000 8,000 Owners' Equity Common Shares 100 100 APIC 1,100 900 Retained Eaming 3,470 1,200 Total Ownen' Equity 4,670 2,200 Total Liabilities and Owners' Equity 11,500 11,250