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NNR Inc.'s balance sheet showed total current assets of $1,575,000 plus $4,225,000 of net fixed assets. All of these assets were required in operations. The
NNR Inc.'s balance sheet showed total current assets of $1,575,000 plus $4,225,000 of net fixed assets. All of these assets were required in operations. The firm's current liabilities consisted of $475,000 of accounts payable, $375,000 of 6% short-term notes payable to the bank, and $150,000 of accrued wages and taxes. Its remaining capital consisted of long-term debt and common equity. What was NNR's total investor-provided operating capital?
Select the correct answer. a. $5,177,800 b. $5,179,200 c. $5,180,600 d. $5,175,000 e. $5,176,400
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