Use the Information Below for Privett Company to Answer the Questions

question 99

Multiple Choice

Use the information below for Privett Company to answer the questions that follow.
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$$\begin{array}{l}\text { Privett Company }\\\begin{array} { l r } \text { Accounts payable } & \$ 30,000 \\\text { Accounts receivable } & 35,000 \\\text { Accrued liabilities } & 7,000 \\\text { Cash } & 25,000 \\\text { Intangible assets } & 40,000 \\\text { Inventory } & 72,000 \\\text { Long-term investments } & 100,000 \\\text { Long-term liabilities } & 75,000 \\\text { Marketable securities } & 36,000 \\\text { Notes payable (short-term) } & 20,000 \\\text { Property, plant, and equipment } & 400,000 \\\text { Prepaid expenses } & 2,000\end{array}\end{array}$$
-Based on the data for Privett Company, what is the amount of working capital?

• A) $213,000
• B) $113,000
• C) $153,000
• D) $39,000

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Definitions:

Base Level

The lowest point to which a river or stream can erode its channel, often sea level for rivers.

Uplift

The vertical elevation of the Earth's surface due to natural causes such as tectonic movements or volcanic activity.

Terraces

Flat, step-like surfaces on a sloped piece of land, created either by natural processes like river erosion and glacial activity or by human agricultural practices.

Active Channel

The portion of a river or stream that is currently used for the flow of water, often subject to frequent changes in course and volume.