Using the following balance sheet and income statement data, what is the total amount of working capital? Current assets $18480 Net income $39600 Stockholders' Current liabilities 10560 55440 equity Average assets 116160 Total liabilities 23760 Total assets 79200 Average common shares outstanding was 13200. O $4400 $1760 O $7920 $6160

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Using the following balance sheet and income statement data, what is the total amount of working capital?
Current assets
$18480
Net income
$39600
Stockholders'
Current liabilities
10560
55440
equity
Average assets
116160
Total liabilities
23760
Total assets
79200
Average common shares outstanding was 13200.
$4400
$1760
O $7920
O $6160
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Transcribed Image Text:Čurrent Attempt in Progress Using the following balance sheet and income statement data, what is the total amount of working capital? Current assets $18480 Net income $39600 Stockholders' Current liabilities 10560 55440 equity Average assets 116160 Total liabilities 23760 Total assets 79200 Average common shares outstanding was 13200. $4400 $1760 O $7920 O $6160 Attempts: 0 of 1 used Save for Later
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Working capital refers to a company's ability to manage day-to-day costs, and it includes stock, cash, payable accounts, receivable accounts, and short-term borrowing. This is a measurement of an organization's operational effectiveness as well as an indication of its short-term financial status.

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