Question
A firms balance sheets for year-end 2011 and 2012 contain the following data. All items are in millions of dollars. Dec. 31, 2011 Dec. 31,
A firms balance sheets for year-end 2011 and 2012 contain the following data. All items are in millions of dollars. Dec. 31, 2011 Dec. 31, 2012 Accounts receivable 33.4 36.7 Inventories 26.4 30.7 Accounts payable 13.4 26.7 a. Calculate the net working capital in 2011. (Enter your answer in millions rounded to 1 decimal place.) Net working capital $ million b. Calculate the net working capital in 2012. (Enter your answer in millions rounded to 1 decimal place.) Net working capital $ million c. What happened to investment in net working capital during 2012? (Input the amount as a positive value. Enter your answer in millions rounded to 1 decimal place.) Net working capital has by $ million.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started