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The financial statements for Watertown Service Company include the following items: 2017 2016 Cash $52,500 $44,000 Short-term Investments 31,000 11,000 Net Accounts Receivable 53,000 51,000

  • The financial statements for Watertown Service Company include the following items:

    2017

    2016

    Cash

    $52,500

    $44,000

    Short-term Investments

    31,000

    11,000

    Net Accounts Receivable

    53,000

    51,000

    Merchandise Inventory

    162,000

    49,000

    Total Assets

    530,000

    549,000

    Accounts Payable

    130,500

    126,000

    Salaries Payable

    16,000

    18,000

    Long-term Note Payable

    55,000

    56,000

    Compute working capital for 2017.

$137,000

$97,000

$152,000

$29,000

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