2023 Income Statement Sales Cost of Goods Sold Depreciation Expense Earnings before Interest and Taxes Interest Expense Taxable income Tax Expense Net Income Dividends Paid Retained Earnings Cash Accounts Receivable Inventory Net Fixed Assets Total Assets Accounts Payable Long-term Debt Common Stock Balance Sheet Accumulated Retained Earnings Total Liabilities & Shareholders' Equity $ 770,000 $ 340,000 $ 95,000 $ 335,000 $ 19,800 $315,200 $ 104,016 $ 211,184 $ 10,300 $ 200,884 End of 2023 Beginning of 2023 $ 280,000 $ $50,000 $ $ 188,000 $ $630,000 $ $1,148,000 $ $ 158,000 $ $ 14,116 $ $ 375,000 $ $ 600,884 $ $1,148,000 $ 122,000 22,300 119,000 630,000 893,300 71,800 121,500 300,000 400,000 893,300 Consider the financial statements displayed above. Based on these statements, calculate the firm's net working capital as of the end of 2023.

2023 Income Statement Sales Cost of Goods Sold Depreciation Expense Earnings before Interest and Taxes Interest Expense Taxable income Tax Expense Net Income Dividends Paid Retained Earnings Cash Accounts Receivable Inventory Net Fixed Assets Total Assets Accounts Payable Long-term Debt Common Stock Balance Sheet Accumulated Retained Earnings Total Liabilities & Shareholders' Equity $ 770,000 $ 340,000 $ 95,000 $ 335,000 $ 19,800 $315,200 $ 104,016 $ 211,184 $ 10,300 $ 200,884 End of 2023 Beginning of 2023 $ 280,000 $ $50,000 $ $ 188,000 $ $630,000 $ $1,148,000 $ $ 158,000 $ $ 14,116 $ $ 375,000 $ $ 600,884 $ $1,148,000 $ 122,000 22,300 119,000 630,000 893,300 71,800 121,500 300,000 400,000 893,300 Consider the financial statements displayed above. Based on these statements, calculate the firm's net working capital as of the end of 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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