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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars.
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars 2016 $4,500 $4,600 1,500 600 375 620 220 540 340 470 5,000 2,050 570 340 470 2015 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 1,400 580 320 570 220 520 310 440 4,100 1,600 849 340 860 Taxes are paid in their entirety in the year that the tax obligation is incurred Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed What was the change in net working capital during the year? Answer is complete but not entirely correct Change in net working capital 56,000Step by Step Solution
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