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Required information [The following information applies to the questions displayed below.] The comparative financial statements prepared at December 31, 2015, for Prince Company showed the
Required information [The following information applies to the questions displayed below.] The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data: 2015 2014 $190,500* 112,600 $167,300 101,700 Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax 77,900 56,400 65,600 53,400 21,500 6,450 12,200 3,660 Net income $ 15,050 $ 8,540 Balance sheet: Cash Accounts receivable (net) Inventory Operational assets (net) $ 4,000 14,600 40,800 46,600 $ 6,800 17,300 33,000 37,400 $106,000 $ 94,500 Current liabilities (no interest) Long-term liabilities (10% interest) Common stock (par $5) Retained earnings $ 15,100 44,600 29,500 16,800 $ 16,100 44,600 29,500 4,300 $106,000 $ 94,500 *One-third was credit sales. 2. By what amount did working capital change? Working capital change
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