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In 2012, Warren sold his personal use automobile for a loss of $9,000.He also sold a personal coin collection for a gain of $10,000.As a result of these sales, $1,000 is subject to income tax.
Net Working Capital
A measure of a company's liquidity, calculated as current assets minus current liabilities.
Inventory Sale
The process of selling goods that a company has produced or purchased for resale.
Book Value
The net value of a company's assets minus its liabilities, often used to estimate the company's value if it were to be liquidated.
Accounts Receivable
Money owed to a company by its debtors for goods or services that have been delivered or used, but not yet paid for.
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