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Presented below is the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2018. Account Title Debits Credits Cash $ 37,000 Accounts

Presented below is the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2018.

Account Title Debits Credits
Cash $ 37,000
Accounts receivable 164,000
Raw materials 41,000
Note receivable 117,000
Interest receivable 20,000
Interest payable $ 22,000
Marketable securities 49,000
Land 67,000
Buildings 1,640,000
Accumulated depreciationbuildings 637,000
Work in process 59,000
Finished goods 106,000
Equipment 334,000
Accumulated depreciationequipment 147,000
Patent (net of amortization) 137,000
Prepaid rent (for the next two years) 77,000
Deferred revenue 53,000
Accounts payable 197,000
Note payable 570,000
Cash restricted for payment of note payable 97,000
Allowance for uncollectible accounts 30,000
Sales revenue 1,140,000
Cost of goods sold 467,000
Rent expense 45,000

Additional information:

  1. The note receivable, along with any accrued interest, is due on November 22, 2019.
  2. The note payable is due in 2022. Interest is payable annually.
  3. The marketable securities consist of treasury bills, all of which mature in the next year.
  4. Deferred revenue will be recognized as revenue equally over the next two years.

Required: Determine the companys working capital (current assets minus current liabilities) at December 31, 2018.

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