Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

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

image text in transcribed
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. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assets Long-tern debt Notes payable Dividends paid Cash and marketable securities 2015 $4,000 1,600 500 300 500 150 400 300 400 5,000 2,000 1,000 410 800 2016 $4,100 1,700 520 350 550 150 420 350 450 5,800 2,400 600 410 300 + Taxes are paid in their entirely 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? (Enter your answer in thousands of dollars.) Change in net working capital

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions