Precision Tools Inc. Financial Statements Income Statement 2013 Sales 7,035,600 COGS 5,875,992 Other expenses 550,000 EBITDA 609,608 Deprec. & amort. 116,960 EBIT 492,648 Interest exp. 70,008 EBT 422,640 Taxes 169,056 Net income 253,584 2012 6,034,000 5,528,000 519,988 (13,988) 116,960 (130,948) 136,012 (266,960) (106,784) (160,176) Balance Sheet: Assets Balance Sheet: Liabilities and Equity 2013 2012 2013 2012 Cash 85,632 7,282 Accts payable 436,800 524,160 Notes payable 300,000 636,808 A/R 878,000 632,160 Accruals 408,000 489,600 Inventories 1,716,480 1,287,360 Total CL 1,144,800 1,650,568 Total CA 2,680,112 1,926,802 Long-term debt 400,000 723,432 Fixed Assets 817,040 939,790 Common stock 1,721,176 460,000 Total Assets Retained earnings 2,866,592 3,497,152 231,176 32,592 Total L & E 3,497,152 2,866,592 What is Precision Tool's 2013 Net Working Capital? What is Precision Tool's 2013 Net Working Capital? $1,535,312 $751,881 $1,652,495 O $1,259,078 O $276,234