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Question
Use the information provided for Privett Company to answer the questions that follow.
| Privett Company | |
| Accounts payable | $ 30,000 |
| Accounts receivable | 35,000 |
| Accrued liabilities | 7,000 |
| Cash | 25,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 100,000 |
| Long-term liabilities | 75,000 |
| Notes payable (short-term) | 20,000 |
| Property, plant, and equipment | 400,000 |
| Prepaid expenses | 2,000 |
| Temporary investments | 36,000 |
Based on the data for Privett Company, what is the amount of working capital?
a. $213,000
b. $113,000
c. $153,000
d. $39,000
Answer
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