Using the attached information to develop and complete a Sources and Uses of Net Working Capital Statement below. The Change in the Net Working Capital Year Current Assets - Current Liabilities - Net Working Capital 2016 2017 Change in Net Working Capital The Sources and Uses of Net Working Capital Sources of NWC Uses of NWC Profits (Retained Earnings) S Payment of dividends Sales of fixed assets Purchase of fixed assets Sales of investments Purchase of investments Long-term loans taken out Repayment of long-term loans Sales of stock Retirement of stock Depreciation Total sources Total uses Total Sources - Total Uses = The Changes within Current Assets and Current Liabilities Change in Current Assets Changes in Current Liabilities Cash/Checking Acct. Accounts Payable Accounts Receivables Taxes Payable Inventories Installment on long-term debt Other current assets due this year Net Change in Net Change in Current Assets Current Liabilities Change in NWC = Balance Sheet 31-Dec-2016 Ag Best Business Assets Liabilities Current Assets: Current Liabilities: $20,000.00 $1,500.00 Cash/Checking Acct. Accounts Receivable Inventories Other current assets Total Current Assets $49,000.00 $5,000.00 151000 $0.00 $205,000.00 Accounts Payable Taxes Payable Installment on long-term debt due this year Total Current Liabilities $20,000.00 $41,500.00 Fixed Assets: Long-term Liabilities $301,600.00 $250,000.00 Notes payable $500,000.00 Land Buildings & Equipment Less: Depreciation -$150,000.00 Total Fixed Assets $600,000.00 Total Noncurrent Liabilities $301,600.00 Total Liabilities $343,100.00 Other investments: Cash value of life insurance Investment in other firms Investment in subsidiary Total Other Investments Owner Equity $6,400.00 $24,400.00 Capital Stock $75,000.00 Retained earnings $105,800.00 Net Income for year Total Equity $910,800.00 $390,500.00 $147,200.00 $30,000.00 $567.700.00 Total Assets Total Liabilities & Owner Equity $910,800.00 Balance Sheet 31-Dec-2017 Ag Best Business Assets Liabilities Current Assets: Current Liabilities: $27.845.00 $7.457.00 Cash/Checking Acct. Accounts Receivable Inventories Other current assets Total Current Assets $47,952.00 $2,500.00 151000 $0.00 $201.452.00 Accounts Payable Taxes Payable Installment on long-term debt due this year Total Current Liabilities $20,000.00 $55,302.00 Fixed Assets: Long-term Liabilities $306,600.00 $250,000.00 Notes payable $550,000.00 Land Buildings & Equipment Less: Depreciation -$160,000.00 Total Fixed Assets $540,000.00 Total Noncurrent Liabilities $306,600.00 Total Liabilities $361,902.00 Other investments: Cash value of life insurance Investment in other firms Investment in subsidiary Total Other Investments Owner Equity $6,400.00 $26,750.00 Capital Stock $75,000.00 Retained earnings $108,150.00 Net Income for year Total Equity $949,602.00 $390,500.00 $147,200.00 $50,000.00 $587,700.00 Total Assets Total Liabilities & Owner Equity $949,602.00
