Using the following balance sheet and income statement data what is the total amount of working capital? $$\begin{array}{l}
\begin{array} { l r l r }
\text { Current assets } & \$ 32,000 & \text { Net income } & \$ 42,000 \
\text { Current liabilities } & 16,000 & \text { Stockholders' equity } & 78,000 \
\text { Average assets } & 160,000 & \text { Total liabilities } & 42,000
\end{array}\
\text { Total assets } \quad 120,000
\end{array}$$
A)$8000
B)$32000
C)$10000
D)$16000

Question

Using the following balance sheet and income statement data what is the total amount of working capital? $$\begin{array}{l}
\begin{array} { l r l r } 
\text { Current assets } & \$ 32,000 & \text { Net income } & \$ 42,000 \
\text { Current liabilities } & 16,000 & \text { Stockholders' equity } & 78,000 \
\text { Average assets } & 160,000 & \text { Total liabilities } & 42,000
\end{array}\
\text { Total assets } \quad 120,000
\end{array}$$
A)$8000
B)$32000
C)$10000
D)$16000

Quizplus · Accepted Answer

The Answer of Using the following balance sheet and income statement data what is the total amount of working capital? $$\begin{array}{l}
\begin{array} { l r l r } 
\text { Current assets } & \$ 32,000 & \text { Net income } & \$ 42,000 \
\text { Current liabilities } & 16,000 & \text { Stockholders' equity } & 78,000 \
\text { Average assets } & 160,000 & \text { Total liabilities } & 42,000
\end{array}\
\text { Total assets } \quad 120,000
\end{array}$$
A)$8000
B)$32000
C)$10000
D)$16000

Using the Following Balance Sheet and Income Statement Data What