Use the Information That Follows from the Financial Statements of Pines

question 36

Essay

Use the information that follows from the financial statements of Pines Company at December 31, 2017, to answer questions 16 through 20 that follow.
$\begin{array}{lr}\text { Accounts payable } & \$ 2,000 \\\text { Accounts receivable } & 3,000 \\\text { Capital stock } & 8,000 \\\text { Cash } & 5,000 \\\text { Inventory } & 19,000 \\\text { Land } & 24,000 \\\text { Notes payable (short-term) } & 5,000 \\\text { Cost of goods sold } & 12,000 \\\text { Retained earnings } & 21,000 \\\text { Sales revenue } & 20,000\end{array}$
-Calculate total working capital for Pines Company at December 31, 2017.

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