You Are Evaluating the Balance Sheet for Ultra Corporation

question 64

Multiple Choice

You are evaluating the balance sheet for Ultra Corporation. From the balance sheet you find the following balances: cash and marketable securities = $10,000, accounts receivable = $2,000, inventory = $20,000, accrued wages and taxes = $1,000, accounts payable = $3,000, and notes payable = $10,000. Calculate Ultra's net working capital.

• A) $ 8,000
• B) $18,000
• C) $28,000
• D) $32,000

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Definitions:

Kano Hogai

A Japanese painter of the Kano school, known for his contributions to the revitalization of traditional Japanese painting in the Meiji era.

Enlightenment

A philosophical movement in the 17th and 18th centuries emphasizing reason, individualism, and skepticism towards traditional doctrines, influencing political and social reforms.

Birth Of The Buddha

A significant event in Buddhist art and iconography representing the moment Siddhartha Gautama, the future Buddha, was born.

Ukiyo-E Prints

Describes a genre of Japanese art which flourished from the 17th through 19th centuries, involving woodblock prints and paintings of subjects like female beauties, kabuki actors, and landscapes.