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Please do not answer roundomly and waste my remained question . If you have a reasonable idea and knowledge, please answer it. Thank you. I

Please do not answer roundomly and waste my remained question. If you have a reasonable idea and knowledge, please answer it. Thank you.

I have a problem in interpretting an expression in my assignment. The paragraph below is a part of the question. Working capital is expressed as negative values in 1992 and 1993 ($45 and $50 in parenthesis). It's positive ($190) in 1991 in the sentence. I'm not sure if all three values should be considered as positive number since WC can be considered as cost which also expressed by negative number in the other expenses. Or WC in 1991 is positive $190 and WC in 1992 is -$45(negative), and one in 1993 is also negative value of -$50?

Occidental Petroleum produces and markets crude oil. The following are selected numbers from the financial statements for 1992 and 1993 (in millions).

1992 Revenues $8,494.0, (Less) Operating Expenses ($6,424.0), (Less) Depreciation ($872.0), = EBIT $1,198.0, (Less) Interest Expenses ($510.0), (Less) Taxes ($362.0), = Net Income $326.0, Working Capital ($45.0), Total Debt $5.4 billion

1993 Revenues $9,000.0, (Less) Operating Expenses ($6,970.0), (Less) Depreciation ($860.0), = EBIT $1,170.0, (Less) Interest Expenses ($515.0), (Less) Taxes ($420.0), = Net Income $235.0, Working Capital ($50.0), Total Debt $5.0 billion

The firm had capital expenditures of $950 million in 1992 and $1 billion in 1993. The working capital in 1991 was $190 million, and the total debt outstanding in 1991 was $5.75 billion. There were 305 million shares outstanding, trading at $21 per share.

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