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Gnarled Co. shows the following information on its 2017 income statement: sales $160,000; costs $80,500; depreciation expense $9,500; interest expense = $7,000, taxes = $20,720,
Gnarled Co. shows the following information on its 2017 income statement: sales $160,000; costs $80,500; depreciation expense $9,500; interest expense = $7,000, taxes = $20,720, dividends = $7,900. In addition, you're told that the firm issued $4,000 in new equity during 2017, and redeemed $6,700 in outstanding long-term debt. Assuming net fixed assets increased by $20,950 during the year, what was the addition to NWC
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