Using the following balance sheet and income statement data, what is the total amount of working capital? $$\begin{array} { l r l r }
\text { Current assets } & \$ 16,000 & \text { Net income } & \$ 21,000 \
\text { Current liabilities } & 8,000 & \text { Stockholders' equity } & 39,000 \
\text { Average assets } & 80,000 & \text { Total liabilities } & 21,000 \
\text { Total assets } & 60,000 & &
\end{array}$$ Average common shares outstanding was 10,000.
A) $ 4,000
B) $16,000
C) $ 5,000
D) $ 8,000

Question

Using the following balance sheet and income statement data, what is the total amount of working capital? $$\begin{array} { l r l r } 
\text { Current assets } & \$ 16,000 & \text { Net income } & \$ 21,000 \
\text { Current liabilities } & 8,000 & \text { Stockholders' equity } & 39,000 \
\text { Average assets } & 80,000 & \text { Total liabilities } & 21,000 \
\text { Total assets } & 60,000 & &
\end{array}$$ Average common shares outstanding was 10,000.
A) $ 4,000
B) $16,000
C) $ 5,000
D) $ 8,000

Quizplus · Accepted Answer

The Answer of Using the following balance sheet and income statement data, what is the total amount of working capital? $$\begin{array} { l r l r } 
\text { Current assets } & \$ 16,000 & \text { Net income } & \$ 21,000 \
\text { Current liabilities } & 8,000 & \text { Stockholders' equity } & 39,000 \
\text { Average assets } & 80,000 & \text { Total liabilities } & 21,000 \
\text { Total assets } & 60,000 & &
\end{array}$$ Average common shares outstanding was 10,000.
A) $ 4,000
B) $16,000
C) $ 5,000
D) $ 8,000

Using the Following Balance Sheet and Income Statement Data, What