PROBLEMS Definitions (pages 667-669) Scherbert Industries has the following balance sheet accounts as of 12/31/X3 (not a complete balance sheet): Accounts payable Accounts receivable Accruals Cash Common stock Fixed assets (net) Inventory Long-term debt 650,000 845,000 257,500 137,200 1,200,000 8,250,000 655,000 3,500,000 Calculate gross and net working capital