Using the Following Balance Sheet and Income Statement Data, What

question 159

Multiple Choice

Using the following balance sheet and income statement data, what is the total amount of working capital? Average common shares outstanding was 15,000.

• A)$7,000
• B)$5,000
• C)$9,000
• D)$2,000

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Definitions:

Voting Common Shares

Shares of common stock that provide the shareholder with the right to vote on corporate matters.

Net Income

The total profit of a company after all revenues, costs, and expenses have been deducted, also known as the bottom line.

Long-Term Investments

Assets that a company intends to hold for more than one year, such as stocks, bonds, real estate, or other financial instruments.