1. Balloon Companys balance sheet showed total current assets of $4,250, all of which were required in operations. Its current liabilities consisted of $975 of accounts payable, $600 of 6% short-term notes payable to the bank, and $250 of accrued wages and taxes. What was its net working capital?

a. $2,874

b. $3,025

c. $3,176

d. $3,335

e. $3,502