Consider the following balance sheet: Luther Corporation Consolidated Balance Sheet December 31, 2009 and 2008 (in $ millions) Assets 2009 2008 Liabilities and Stockholders' Equity 2009 2008 Current Assets Current Liabilities Cash 63.6 58.5 Accounts payable 87.6 73.5 Accounts receivable 55.5 39.6 Notes payable/ short-term debt 10.5 9.6 Inventories 45.9 42.9 Current maturities of long-term debt 39.9 36.9 Other current assets 6.0 3.0 Other current liabilities 6.0 12.0 Total current assets 171.0 144.0 Total current liabilities 144.0 132.0 Long-Term Assets Long-Term Liabilities Land 66.6 62.1 Long-term debt 239.7 168.9 Buildings 109.5 91.5 Capital lease obligations --- --- Equipment 119.1 99.6 Total Debt 239.7 168.9 Less accumulated depreciation (56.1) (52.5) Deferred taxes 22.8 22.2 Net property, plant, and equipment 239.1 200.7 Other long-term liabilities --- --- Goodwill 60.0 -- Total long-term liabilities 262.5 191.1 Other long-term assets 63.0 42.0 Total liabilities 406.5 323.1 Total long-term assets 362.1 242.7 Stockholders' Equity 126.6 63.6 Total Assets 533.1 386.7 Total liabilities and Stockholders' Equity 533.1 386.7 -What is Luther's net working capital in 2009? A) $12 million B) $27 million C) $39 million
Consider the following
|
Luther Corporation Consolidated Balance Sheet December 31, 2009 and 2008 (in $ millions) |
|
Assets |
2009 |
2008 |
|
Liabilities and |
2009 |
2008 |
|
Current Assets |
|
|
|
Current Liabilities |
|
|
|
Cash |
63.6 |
58.5 |
|
Accounts payable |
87.6 |
73.5 |
|
|
55.5 |
39.6 |
|
Notes payable/ short-term debt |
10.5 |
9.6 |
|
Inventories |
45.9 |
42.9 |
|
Current maturities of long-term debt |
39.9 |
36.9 |
|
Other current assets |
6.0 |
3.0 |
|
Other current liabilities |
6.0 |
12.0 |
|
Total current assets |
171.0 |
144.0 |
|
Total current liabilities |
144.0 |
132.0 |
|
|
|
|
|
|
|
|
|
Long-Term Assets |
|
|
|
Long-Term Liabilities |
|
|
|
Land |
66.6 |
62.1 |
|
Long-term debt |
239.7 |
168.9 |
|
Buildings |
109.5 |
91.5 |
|
Capital lease obligations |
--- |
--- |
|
Equipment |
119.1 |
99.6 |
|
Total Debt |
239.7 |
168.9 |
|
Less depreciation |
(56.1) |
(52.5) |
|
|
22.8 |
22.2 |
|
Net property, plant, and equipment |
239.1 |
200.7 |
|
Other long-term liabilities |
--- |
--- |
|
|
60.0 |
-- |
|
Total long-term liabilities |
262.5 |
191.1 |
|
Other long-term assets |
63.0 |
42.0 |
|
Total liabilities |
406.5 |
323.1 |
|
Total long-term assets |
362.1 |
242.7 |
|
Stockholders' Equity |
126.6 |
63.6 |
|
|
|
|
|
|
|
|
|
Total Assets |
533.1 |
386.7 |
|
Total liabilities and Stockholders' Equity |
533.1 |
386.7 |
-What is Luther's net
- A) $12 million
- B) $27 million
- C) $39 million
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