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Question 14 Financial statements for the Genatron Manufacturing Corporation for the years 2017 and 2016 are shown. Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS
Question 14 Financial statements for the Genatron Manufacturing Corporation for the years 2017 and 2016 are shown. Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS Cash $40,883 $50,060 Accts. receivable 260,609 201,342 Inventory 502,216 450,404 Total current assets 803,708 701,806 Fixed assets, net 400,000 300,000 Total assets $1,203,708 $1,001,806 LIABILITIES AND EQUITY Accts. payable $172,093 $134,812 Bank loan 91,949 91,949 Accruals 70,000 50,000 Total current liabilities 334,042 276,761 Long-term debt, 12% 399,861 309,984 Common stock, $10 par 300,000 300,000 Capital surplus 47,145 47,145 Retained earnings 122,660 67,916 Total liabilities & equity $1,203,708 $1,001,806 Genatron Manufacturing Corporation Income Statement 2017 2016 Net sales $1,669,652 $1,469,652 Cost of goods sold 1,001,791 881,791 Gross profit 667,861 587,861 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 50,255 41,571 Interest 55,684 44,476 Earnings before taxes 261,922 221,814 Income taxes 74,913 60,784 Net income $187,009 $161,030 (a) Calculate Genatron's dollar amount of net working capital in each year. 2017 2016 Net working capital Attemp
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