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
(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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