Question
Luther Corporation Consolidated Balance Sheet December31, 2006 and 2005(in $millions) Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 56
Luther Corporation
Consolidated Balance Sheet
December31, 2006 and 2005(in $millions)
Assets
2006
2005
Liabilities and
Stockholders' Equity
2006
2005
Current Assets
Current Liabilities
Cash
56
58.5
Accounts payable
86.9
73.5
Accounts receivable
54.6
39.6
Notes payable/
shortterm debt
9.4
9.6
Inventories
45.5
42.9
Current maturities of
longterm debt
39.4
36.9
Other current assets
5
3.0
Other current liabilities
6.0
12.0
Total current assets
161.1
144.0
Total current liabilities
141.7
132.0
LongTerm Assets
LongTerm Liabilities
Land
66
62.1
Longterm debt
227.9
168.9
Buildings
109.1
91.5
Capital lease obligations
Equipment
114.2
99.6
Less accumulated
depreciation
(55.5)
(52.5)
Deferred taxes
22.8
22.2
Netproperty, plant, and
equipment
233.8
200.7
Other longterm liabilities
Goodwill
60.0
Total longterm liabilities
250.7
191.1
Other longterm assets
63.0
42.0
Total liabilities
392.4
323.1
Total longterm assets
356.8
242.7
Stockholders' Equity
125.5
63.6
Total Assets
517.9
386.7
Total liabilities and
Stockholders' Equity
517.9
386.7
Refer to the balance sheet above. What isLuther's net working capital in2006?
A.
$19.40 million
B.
$302.80 million
C.
$38.80 million
D.
$9.70 million
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