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Lennox Furniture Company's 2005 balance sheet showed total current assets of $1,000. All of the current assets were required in operations, and its current liabilities
Lennox Furniture Company's 2005 balance sheet showed total current assets of $1,000. All of the current assets were required in operations, and its current liabilities consisted of $300 of accounts payable and $115 of short-term notes payable to the bank. What was the net operating working capital at the end of 2005?
When I did this problem I got $855. but the answer stated it was $700. I can't figure out how to get $700 with the formula he gave us. CA-(CL-NP) am I reading it wrong?
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