Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown.

Genatron Manufacturing Corporation Balance Sheet
		2020		2019
ASSETS
Cash		$40,092		$51,870
Accts. receivable		260,069		200,793
Inventory		503,172		451,077
Total current assets		803,333		703,740
Fixed assets, net		400,000		300,000
Total assets		$1,203,333		$1,003,740
LIABILITIES AND EQUITY
Accts. payable		$172,624		$134,469
Bank loan		90,193		90,193
Accruals		70,000		50,000
Total current liabilities		332,817		274,662
Long-term debt, 12%		399,825		299,735
Common stock, $10 par		300,000		300,000
Capital surplus		46,985		46,985
Retained earnings		123,706		82,358
Total liabilities & equity		$1,203,333		$1,003,740

Genatron Manufacturing Corporation Income Statement
		2020		2019
Net sales		$1,688,133		$1,488,133
Cost of goods sold		1,012,880		892,880
Gross profit		675,253		595,253
Expenses:
General and administrative		150,000		150,000
Marketing		150,000		130,000
Depreciation		50,323		41,308
Interest		54,899		44,058
Earnings before taxes		270,031		229,887
Income taxes		74,106		60,166
Net income		$195,925		$169,721

(a)

Calculate Genatrons dollar amount of net working capital in each year.

		2020		2019
Net working capital		$		$

eTextbook and Media

Save for Later