Balance Sheets 2019 2018 Assets Cash and equivalents $60 $45 Accounts receivable 275 300 Inventories 375 250 Total current assets $710 $595 Net plant and equipment 2,300 1,490 Total assets $3,010 $2,085 Liabilities and Equity Accounts payable $150 $85 Accruals 75 50 Notes payable 110 35 Total current liabilities $335 $170 Long-term debt 450 290 Common stock 1,225 1,225 Retained earnings 1,000 400 Total liabilities and equity $3,010 $2,085 Income Statements 2019 2018 Sales $2,285 $1,585 Operating costs excluding depreciation 1,250 1,000 EBITDA $1,035 $585 Depreciation and amortization 100 75 EBIT $935 $510 Interest 63 46 EBT $872 $464 Taxes (25%) 218 116 Net income $654 $348 Dividends paid $54 $48 Addition to retained earnings $600 $300 Shares outstanding Price WACC 100 100 $25.00 $22.50 10.00% The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. What is Rosnan's 2019 net operating working capital (NOWC)? $ What is Rosnan's 2019 net working capital (NWC)? $