The Following Balance Sheet Information Is Provided for Apex Company

The following balance sheet information is provided for Apex Company for Year 2: $\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 5,400 \\\text { Accounts receivable } & 15,500 \\\text { Inventory } & 18,000 \\\text { Prepaid expenses } & 1,600 \\\text { Plant and equipment, net of depreciation } & 20,200 \\\text { Land } & \underline{ 19,950 }\\\text { Total assets } &\underline{ \$ 80,650}\\\text { Liabilities and Stockholders' Equity }\\\text { Accounts payable } & \$ 4,500 \\\text { Salaries payable } & 11,500 \\\text { Bonds payable (Due in ten years) } & 19,000 \\\text { Common stock, no par } & 30,000 \\\text { Retained earnings } &\underline{ 15,650} \\\text { Total liabilities and stockholders' equity }& \$ 80,650\end{array}$
What is the company's working capital?

A) $20,300
B) $4,900
C) $22,900
D) $24,500