Question
Aussel Motors, Inc. 2018 statement of comprehensive income ($ in millions) Net sales$6,080Less: Cost of goods sold3,890Less: Depreciation860Earnings before interest and taxes1,330Less: Interest paid270Earnings before
Aussel Motors, Inc.
2018 statement of comprehensive income
($ in millions)Net sales$6,080Less: Cost of goods sold3,890Less: Depreciation860Earnings before interest and taxes1,330Less: Interest paid270Earnings before taxes1,060Less: Taxes360Net Income700Aussel Motors, Inc.
2017 and 2018 statement of financial position
($ in millions)2017201820172018Cash415560Accounts payable540610Accounts receivable860840Current portion of LTD050Inventory1,2701,390Total540660Total2,5452,790Long-term debt21653480Net fixed assets3,1804,660Common stock20002250Retained earnings10201060Total assets5,7257,450Total liab. & equity57257450
What is the change in the net working capital from 2017 to 2018 ($ in millions)?
Multiple Choice
- $125
- $2,005
- $2,140
- -$40
- $75
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