Given the Following Information About Jones Corporation, What Are Jones's

question 28

Essay

Given the following information about Jones Corporation, what are Jones's working capital needs using the Bard formula, assuming that federal income taxes are not an operating expense?
$\begin{array}{ll}\text { Average inventory } & \$ 33,000 \\\text { Cost of goods sold } & 300,000 \\\text { Purchases } & 250,000 \\\text { Average accounts receivable balance } & 80,000\\\text { Average cre dit sales } & 320,000 \\\text { Average accounts payable balance } & 30,000 \\\text { Operating expense } & 400,000 \\\text { Depreciation claimed as operating expense } & 50,000 \\\text { Federal income taxes } & 25,000 \\\text { Advances to suppliers } & 30,000\end{array}$

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