7) The following balance sheet information is provided for Apex Company for Year 2:

Assets
Cash	$	5,400
Accounts receivable		15,500
Inventory		18,000
Prepaid expenses		1,600
Plant and equipment, net of depreciation		20,200
Land		19,950
Total assets	$	80,650
Liabilities and Stockholders' Equity
Accounts payable	$	4,500
Salaries payable		11,500
Bonds payable (Due n 2020)		19,000
Common stock no par		30,000
Retained earnings		15,650
Total liabilities and stockholders equity	$	80,650

What is the company's working capital?

A) $20,300

B) $4,900

C) $22,900

D) $24,500

17) On January 1, the balance of Fink Corporation's Accounts Receivable was $10,000. Sales on account amounted to $80,000 during the Year. The ending balance of Accounts Receivable was $16,000. What is the amount of cash collected from customers?

A) $64,000

B) $90,000

C) $86,000

D) $74,000

21) Erie Company began the accounting period with $27,000 in Accounts Receivable. The ending balance in Accounts Receivable was $10,000. If the credit sales during the period were $44,000, what is the amount of cash received from customers?

A) $27,000

B) $44,000

C) $81,000

D) $61,000