Southeastern IT Systems has the following balance sheet and the income statement. Make sure the unit is in million dollars. (unit: $ in millions) Southeastern IT Systems Balance Sheets 2013 2014 2013 2014 Cash $1,000 $1,200 Accounts payable $800 $850 Accounts receivable 6,500 7,500 Notes payable 7,500 8,000 Inventory 1,500 2,000 Current liabilities 8,300 8,850 Current assets 9,000 10,700 Long-term debt 1,000 1,000 Net fixed assets 3,000 3,500 Common equity 500 500 Retained earnings 2,200 3,850 Total Assets $12,000 $14,200 Total Liabilities & Owner’s Equity $12,000 $14,200 Income Statement 2014 Net sales $15,000 Cost of goods sold 10,000 Depreciation 700 EBIT 4,300 Interest expenses 400 Taxable income 3,900 Taxes 1,365 Net income $2,535 Dividends ( ) What is the change in net working capital (NWC) from 2013 to 2014?
Southeastern IT Systems has the following balance sheet and the income statement. Make sure the unit is in million dollars.
(unit: $ in millions)
|
Southeastern IT Systems Balance Sheets |
|||||
|
|
2013 |
2014 |
|
2013 |
2014 |
|
Cash |
$1,000 |
$1,200 |
Accounts payable |
$800 |
$850 |
|
|
6,500 |
7,500 |
Notes payable |
7,500 |
8,000 |
|
Inventory |
1,500 |
2,000 |
Current liabilities |
8,300 |
8,850 |
|
Current assets |
9,000 |
10,700 |
Long-term debt |
1,000 |
1,000 |
|
Net fixed assets |
3,000 |
3,500 |
Common equity |
500 |
500 |
|
|
|
|
|
2,200 |
3,850 |
|
Total Assets |
$12,000 |
$14,200 |
Total Liabilities & Owner’s Equity |
$12,000 |
$14,200 |
|
Income Statement |
|
|
|
2014 |
|
Net sales |
$15,000 |
|
Cost of goods sold |
10,000 |
|
|
700 |
|
EBIT |
4,300 |
|
Interest expenses |
400 |
|
Taxable income |
3,900 |
|
Taxes |
1,365 |
|
Net income |
$2,535 |
|
Dividends |
( ) |
What is the change in net
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