Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gregory Mining LLC shows the following information on its 2014 income statement: sales = $317,800; costs = $211,400; other expenses = $18,500; depreciation expense =

Gregory Mining LLC shows the following information on its 2014 income statement: sales = $317,800; costs = $211,400; other expenses = $18,500; depreciation expense = $31,200; interest expense = $2,100; taxes = $18,600; dividends = $12,000. In addition, you're told that the firm issued $4,500 in new equity during 2014, and redeemed $6,500 in outstanding long-term debt. If net fixed assets increased by $7,400 during the year, what was the addition to net working capital?

A. $17,900

B. $14,600

C. $15,800

D. $16,200

E. $17,400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fixed Income Securities Tools For Todays Markets

Authors: Bruce Tuckman, Angel Serrat

3rd Edition

0470891696, 978-0470891698

More Books

Students also viewed these Finance questions

Question

What are the short- and long-term effects of stress on the body?

Answered: 1 week ago