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Square Hammer Corp. shows the following information on its 2018 income statement: Sales = $456,000; Costs = $220,000; Other expenses = $36,000; Depreciation expense =
Square Hammer Corp. shows the following information on its 2018 income statement: Sales = $456,000; Costs = $220,000; Other expenses = $36,000; Depreciation expense = $29,431; Interest expense = $12,900; Taxes = $79,845; Dividends = $89,500. In addition, youre told that the firm issued $64,000 in new equity during 2018 and redeemed $19,000 in outstanding long-term debt. If net fixed assets increased by $46,000 during the year, what was the addition to NWC?
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