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Transit Company generated net income of $233,412 this year. At year end, the company had accounts receivables of $87,199, inventory of $63,781, and cash of
Transit Company generated net income of $233,412 this year. At year end, the company had accounts receivables of $87,199, inventory of $63,781, and cash of $21,461. It also had accounts payables of $41,369, short-term notes payables of $11,417, and accrued taxes of $6,145. The net working capital of the firm is
a. $117,510
b. $98,082.
c. $69,971
d. $35,872
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