Using the Following Balance Sheet and Income Statement Data, What

question 79

Multiple Choice

Using the following balance sheet and income statement data, what is the total amount of working capital? $$\begin{array} { l r l r } \text { Current assets } & \$ 32,000 & \text { Net income } & \$ 42,000 \\\text { Current liabilities } & 16,000 & \text { Stockholders' equity } & 78,000 \\\text { Average assets } & 160,000 & \text { Total liabilities } & 42,000 \\\text { Total assets } & 120,000 & &\end{array}$$ Average common shares outstanding was 15,000.

• A)$ 8,000
• B)$ 32,000
• C)$ 10,000
• D)$ 16,000

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Definitions:

Complementary Goods

Products or services that are used together, where the use or consumption of one enhances the value of the other.

Demand SHIFT

A change in the market demand curve, where at every price level, the quantity demanded of a good increases or decreases due to factors other than its price such as consumer preferences, income, or the price of other goods.

Complement

A good whose demand increases when the price of another good decreases. Examples include a parking lot and shopping mall or a hamburger and a hamburger bun.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various price levels.