A Corporation Reports the Following Year-End Balance Sheet Data

question 106

Multiple Choice

A corporation reports the following year-end balance sheet data. The company's working capital equals: $\begin{array}{lrcc}\text { Cash } & \$ 400,000 & \text { Current liabilities } & \$ 75,000 \\\text { Accounts receivable } & 55,000 & \text { Long-term liabilities } & 35,000 \\\text { Inventory } & 60,000 & \text { Common stock } & 100,000\end{array}$

$\begin{array}{cclc}\text { Equipment } & 145,000 & \text { Retained earnings } & 90,000 \\\text { Total assets } & \$ 300,000 & \text { Total liabilities and equity } & \$ 300,000\end{array}$

• A) $75,000
• B) $155,000
• C) $300,000
• D) $80,000
• E) $190,000

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Definitions:

Psychedelic

Substances that produce altered states of consciousness, characterized by changes in perception, mood, and thought.

Mescaline

A psychedelic compound derived from certain cacti, known for its hallucinogenic effects on human perception and consciousness.

Alcohol

A psychoactive substance commonly found in beverages, known for its depressant effects on the central nervous system.

Stimulant Drugs

Substances that increase alertness, attention, and energy by elevating the levels of key chemicals in the brain and other parts of the body.