XYZ has the following items on its balance-sheet: Cash = 2,500 Marketable Securities =5,000, Accounts Receivable = 2,400 , Inventory = 2,000, Accounts Payable =4,000 Short-term Bank loans =1,000. XYZ sales are 20,000 and it needs 400 for operating activities. What is XYZ.s Operating Net Working Capital (ONWC)?

• 1,200

• 10,000

• 800

• 200