The December 31, 2009, balance sheet of Anna’s Tennis Shop, Inc., showed current assets of $2,977 and current liabilities of $1,308. The December 31, 2010, balance sheet showed current assets of $2,466 and current liabilities of $1,277. What was the company’s 2010 change in net working capital, or NWC?
The December 31, 2009, balance sheet of Anna’s Tennis Shop, Inc., showed current assets of $2,977 and current liabilities of $1,308. The December 31, 2010, balance sheet showed current assets of $2,466 and current liabilities of $1,277. What was the company’s 2010 change in net working capital, or NWC?
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 1P
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The December 31, 2009, balance sheet of Anna’s Tennis Shop, Inc., showed current assets of $2,977 and current liabilities of $1,308. The December 31, 2010, balance sheet showed current assets of $2,466 and current liabilities of $1,277. What was the company’s 2010 change in net working capital, or NWC?
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