Use the Following Data to Determine the Total Amount of Working

question 38

Multiple Choice

Use the following data to determine the total amount of working capital. $\begin{array} { l } \text {Carne Auto Supplies }\\ \text { Balance Sheet }\\ \text { December 31,2022 }\\\begin{array}{lr}\text { Cash } & \$ 0,000 \\\text { Accounts receivable } & 100,000 \\\text { Inventory } & 140,000 \\\text { Prepaid insurance } & 80,000 \\\text { Stock investments } & 180,000 \\\text { Land } & 190,000\\\text { Buildings } & \$ 230,000 & \\\text { Less: Accumulated } & \\\quad \text { depreciation } (60,000) & 170,000 \\\text { Patent } & 140,000 \\\text { Total assets } & \$ 1,070,000\\\end{array}&\begin{array}{lrr}\text { Accounts payable } & \$ 130,000 \\\text { Salaries and wages payable } & 20,000 \\\text { Mortgage payable } & 180,000 \\\text { Total liabilities } & 330,000\\\\\\\text { Common stock } & 240,000 \\\text { Retained earnings } & 500,000 \\\text { Total stockholders' equity } & 740,000 \\\text { Total liabilities and } & \\\text { stockholders' equity } & \$ 1,070,000\\\end{array}\\\end{array}$

---

Definitions:

Viral Disease

Diseases caused by viruses, microscopic infectious agents that can infect all types of life forms, from animals and plants to microorganisms, including bacteria and archaea.

Influenza

A highly contagious viral infection of the respiratory passages causing fever, severe aching, and often occurring in epidemics.

Lyme Disease

An infectious disease caused by the Borrelia bacterium, which is transmitted to humans through the bite of infected black-legged ticks.

Tuberculosis

A highly infectious disease caused by the bacterium Mycobacterium tuberculosis, primarily affecting the lungs but can spread to other organs.