Quantitative Problem: Rosnan Industries' 2019 and 2018 balance sheets and income statements are shown below. Balance Sheets 2019 2018 Assets Cash and equivalents $110 $95 Accounts receivable 275 300 Inventories 375 250 Total current assets $760 $645 Net plant and equipment 2,300 1,490 Total assets $3,060 $2,135 $150 $85 75 50 85 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity 160 $385 450 1,225 1,000 $3,060 $220 290 1,225 400 $2,135 Income Statements 2019 2018 Sales Operating costs excluding depreciation EBITDA Depreciation and amortization EBIT $2,285 1,250 $1,035 100 $1,585 1,000 $585 75 $935 $510 Interest 63 46 $872 $464 EBT Taxes (25%) Net income 218 116 $654 $348 $54 $48 Dividends paid Addition to retained earnings $600 $300 Shares outstanding 100 100 Price $25.00 $22.50 WACC 10.00% The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. What is Rosnan's 2019 net operating working capital (NOWC)? $ What is Rosnan's 2019 net working capital (NWC)? $ $