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Given the following income statement and balance sheet, how much was Jones Corporation's net operating working capital in 2018? 2018 2017 Jones Corporation Income Statements

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Given the following income statement and balance sheet, how much was Jones Corporation's net operating working capital in 2018? 2018 2017 Jones Corporation Income Statements $68,750 $62,500 Sales $58,500 $53,125 Operating costs excluding depreciation $2,375 $2,250 Depreciation and amortization $7,875 $7,125 Earnings before interest and taxes $750 $625 Less interest $6,500 Pre-tax income $7,125 Taxes (40%) $2,850 $2,600 $4,275 $3,900 Net income available to common stockholders $1,375 $1,250 Common dividends Jones Corporation Balance Sheets 2018 2017 Assets $3,438 $3,125 Cash $688 $625 Short-term investments $17,188 $15,625 Accounts receivable $9,375 $10,313 Inventories $31,625 $28,750 Total current assets $24,063 $21,875 Net plant and equipment $55,688 Total assets $50,625 Liabilities and Equity Accounts payable $6,250 $6,875 $3,438 Accruals $3,125 $2,400 $1,250 Notes payable $12,713 $10,625 Total current liabilities $6,875 $6,250 Long-term debt Total liabilities $19,588 $16,875 $26,950 $27,500 Common stock Retained earnings $6,250 9,150 $33,750 Total common equity $36,100 Total liabilities and equity $55,688 $50,625

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