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Any help is greatly appreciated! I know the NWC is CA - CL, and so I took CAs of Inventory + AR + Cash &
Any help is greatly appreciated! I know the NWC is CA - CL, and so I took CAs of Inventory + AR + Cash & Marketable Securities - AP for both 2018 and 2019. (320+440+470-365) - (260+840+420-320) which is 865-1200 which is -335. Am I doing the NWC wrong?
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes payable Dividends paid Cash and marketable securities 2018 $4,800 1,700 510 260 560 120 520 320 420 5,500 3,000 937 320 840 2019 $4,900 1,800 530 320 610 120 540 365 470 6,100 3,370 650 320 440 * Taxes are paid in their entirety in the year that the tax obligation is incurred. T Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) Answer is complete but not entirely correct. Net working capital decreased by $ 335,000Step by Step Solution
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