3. TOP Corp. has the following balance sheet. Cash Short-term investments Accounts receivable Inventory Current assets Gross fixed assets Accumulated depres Net fixed assets Total assets $20.00 Accounts payable 50.00 Accruals 20.00 Notes payable 60.00 Current liabilities $150.00 Long-term debt $140.00 Common stock 40.00 Retained earnings $100.00 Total common equity $250.00 Total liab. & equity a. How much total operating capital does the firm have? Show all work. b. Briefly discuss the importance of operating income to a company. I $30.00 50.00 30.00 $110.00 70.00 30.00 40.00 $70.00 $250.00