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The following is ABC Corp. 2020 income statement: Sales = $305,000, Costs = $176,000, Other expenses = $9,000, Depreciation expense = $18,200, Interest expense =
The following is ABC Corp. 2020 income statement: Sales = $305,000, Costs = $176,000, Other expenses = $9,000, Depreciation expense = $18,200, Interest expense = 12,900, Dividends = 18,300. Tax rate is 3 percent. In addition, youre told that the firm issued $5,900 in new equity during 2020 and redeemed $52,000 in outstanding long-term debt. If net fixed assets increased by $43,000 during the year, what was the changes in NWC? No Excel. Thank you.
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