Assume that it is at the end of 2016. You are given the income statement and balance sheet for 2016 as well as projected ones for 2017 and 2018.

Question 18: Calculate Operating CA (Current Assets) in 2016

Question 19: Calculate Operating CA (Current Assets) in 2017

Question 20: Calculate Operating CA (Current Assets) in 2018

Please help and show work and explain solutions.

Income statement Sales Cost of goods sold SG&A expense Depreciation Interest expense Interest income Income before taxes Income tax Net Income/(loss) 2016 5510 4542 425 82 65 4 ??? ??? 240 2017 6040 5051 435 74 42 2 ??? ??? 264 2018 6530 5366 485 69 53 3 ??? ??? 336 Balance Sheet 2016 2017 2018 ASSETS Cash and equivalents Marketable securities Accounts receivable Inventories Total current assets 12 86 86 740 924 13 88 90 850 1041 31 90 96 950 1167 Property and equipment at cost Accumulated depreciation Net property and equipment 650 730 205248 ??? 830 312 ??? - ??? Other non-current assets Total assets 85 1454 100 1623 85 1770 LIABILITIES Accounts payable Accrued expenses Total current liabilities Long-term debt Total Liabilities 350 220 570 380 950 423 250 673 360 1033 428 285 713 460 1173 Shareholders' equity Common stock Retained earnings Total shareholder's equity 480 24 504 480 110 590 480 117 597 Total Liabilities and Equity 1454 1623 1770