Answer:
Chang and Smith Tours
The amount of net working capital for 2019 is:
$828.
Explanation:
a) Data and Calculations:
Chang and Smith Tours
Balance sheets: 2018 2019
Assets
Cash $209 $197
Accounts Receivable 684 726
Inventory 918 1,023
Net Fixed Assets 2,014 1,944
Total Assets $3,825 $3,890
Liabilities and Equity
Accounts Payable $748 $818
Notes Payable 306 300
Long-Term Debt 1,647 1,724
Stockholders' Equity 1,118 1,048
Total Liabilities and Equity $3,819 $3,890
Working capital:
Current assets:
Cash $209 $197
Accounts Receivable 684 726
Inventory 918 1,023
Less current liabilities
Accounts Payable $748 $818
Notes Payable 306 300
Net working capital $757 $828
b) The net working capital is the difference between current assets and current liabilities.
