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Presented below is the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2018 Account Title Cash Accounts receivable Raw materials Note
Presented below is the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2018 Account Title Cash Accounts receivable Raw materials Note receivable Interest receivable Interest payable Marketable securities Land Buildings Accumulated depreciation-buildings Work in process Finished goods Equipment Accumulated depreciation-equipment Patent (net of amortization) Prepaid rent (for the next two years) Deferred revenue Accounts payable Note payable Cash restricted for payment of note payable Allowance for uncollectible accounts Sales revenue Cost of goods sold Rent expense Debits Credits $36,000 162,000 40,000 116,000 19,000 $ 21,000 48,000 66,000 1,620,000 636,000 58,000 105,000 332,000 146,000 136,000 76,000 52,000 196,000 560,000 96,000 29,000 1,120,000 466,000 44,000 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 company's working capital (current assets minus current liabilities) at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
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