Question
Use the following data to determine the total amount of working capital. Splish Brothers Inc. Balance Sheet December 31, 2022 Cash $198000 Accounts payable $198000
Use the following data to determine the total amount of working capital.
| Splish Brothers Inc. | |||||
| Balance Sheet | |||||
| December 31, 2022 | |||||
| Cash | $198000 | Accounts payable | $198000 | ||
|---|---|---|---|---|---|
| Accounts receivable | 153000 | Salaries and wages payable | 29000 | ||
| Inventory | 169000 | Mortgage payable | 227000 | ||
| Prepaid insurance | 94600 | Total liabilities | $454000 | ||
| Stock investments | 259000 | ||||
| Land | 277000 | ||||
| Buildings | $322000 | Common stock | $437600 | ||
| Less: Accumulated depreciation | (60500) | 261500 | Retained earnings | 725500 | |
| Goodwill | 205000 | Total stockholders' equity | $1163100 | ||
| Total assets | $1617100 | Total liabilities and stockholders' equity | $1617100 | ||
A.) $417600
B.) $387600
C.) $207600
D.) $157600
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
9th Edition
978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062
