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Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS Cash $41,228 $51,074 Accts. receivable 260,044 200,570 Inventory 503,801 451,089 Total current assets 805,073 702,733 Fixed assets,
Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS Cash $41,228 $51,074 Accts. receivable 260,044 200,570 Inventory 503,801 451,089 Total current assets 805,073 702,733 Fixed assets, net 400,000 300,000 Total assets $1,205,073 $1,002,733 LIABILITIES AND EQUITY Accts. payable $170,213 $130,994 Bank loan 90,069 90,069 Accruals 70,000 50,000 Total current liabilities 330,282 271,063 Long-term debt, 12% 387,978 301,841 Common stock, $10 par 300,000 300,000 Capital surplus 48,504 48,504 Retained earnings 138,309 81,325 Total liabilities & equity $1,205,073 $1,002,733 Genatron Manufacturing Corporation Income Statement 2017 2016 Net sales $1,523,346 $1,323,346 Cost of goods sold 914,008 794,008 Gross profit 609,338 529,338 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 51,852 42,095 Interest 55,983 44,008 Earnings before taxes 201,503 163,235 Income taxes 75,351 61,248 Net income $126,152 $101,987 (a) Calculate Genatron's dollar amount of net working capital in each year. 2017 2016 Net working capital $ $
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