On January 1, 2013, James Company reported total current assets of $658,000 and total current liabilities of $365,000. During the year, James purchased $2,000 worth of equipment for cash, paid $560 towards salaries, and borrowed $80,000 from its bank to be repaid after 5 years. Compute James' working capital as of December 31, 2013.

A. $293,000 B. $335,400 C. $370,440 D. $290,440

Show your work; points will be awarded only if process to solve is shown.