Using the Following Balance Sheet and Income Statement Data, What

question 35

Multiple Choice

Using the following balance sheet and income statement data, what is the total amount of working capital? $$\begin{array} { l r l r } \text { Current assets } & \$ 16,000 & \text { Net income } & \$ 21,000 \\\text { Current liabilities } & 8,000 & \text { Stockholders' equity } & 39,000 \\\text { Average assets } & 80,000 & \text { Total liabilities } & 21,000 \\\text { Total assets } & 60,000 & &\end{array}$$ Average common shares outstanding was 10,000.

• A) $ 4,000
• B) $16,000
• C) $ 5,000
• D) $ 8,000

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