Question
Selected comparative financial statement data for Tri Town Inc. are shown below. Tri town inc Statement of financial position (partial) December 31 (in thousands) 2018
Selected comparative financial statement data for Tri Town Inc. are shown below.
Tri town inc
Statement of financial position (partial)
December 31
(in thousands)
2018 2017 2016
Current assets
Cash $ 30 $ 91 $ 60
Held for trading investments 55 60 40
Accounts receivable, net 679 591 495
Inventory 630 523 571
Prepaid expenses 41 52 29
Total current assets $ 1,435 $ 1,317 $ 1,195
Total current liabilities $ 879 $ 819 $ 746
Additional information: (in thousands) 2018 2017 2016 Allowance for doubtful accounts 50 $ 45 40 Net credit sales 4,176 3,903 3,730 Cost of goods sold 2,917 2,636 2,350
Step by Step Solution
3.45 Rating (158 Votes )
There are 3 Steps involved in it
Step: 1
Calculation of Working Capital Working capital current assetscurrent liabilities 2018 Working capita...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started