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You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $560,000, accounts receivable = $2,000,000, inventory = $2,500,000, accrued wages and taxes = $610,000, accounts payable = $910,000, and notes payable = $710,000. Calculate Goodman's Bees' net working capital.

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jepessoa

Answer:

$2,830,000

Explanation:

Net working capital is calculating by subtracting current liabilities from current assets

  • current assets = cash and marketable securities + accounts receivable + inventories = $560,000 + $2,000,000 + $2,500,000 = $5,060,000
  • current liabilities = accrued wages and taxes + accounts payable + notes payable = $610,000 + $910,000 + $710,000 = $2,230,000

net working capital = $5,060,000 - $2,230,000 = $2,830,000

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