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The Financial Statements for Uptown Service Company Include the Following

question 154

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The financial statements for Uptown Service Company include the following items: 20192018 Cash $50,500$47,000 Short-term Investments 27,00018,000 Net Accounts Receivable 61,00051,000 Merchandise Inventory 161,00046,000 Total Assets 535,000548,000 Accounts Payable 127,500129,000 Salaries Payable 16,00016,000 Long-term Note Payable 60,00057,000\begin{array} { | l | r | r | } \hline & { 2019 } & { 2018 } \\\hline \text { Cash } & \$ 50,500 & \$ 47,000 \\\hline \text { Short-term Investments } & 27,000 & 18,000 \\\hline \text { Net Accounts Receivable } & 61,000 & 51,000 \\\hline \text { Merchandise Inventory } & 161,000 & 46,000 \\\hline \text { Total Assets } & 535,000 & 548,000 \\\hline \text { Accounts Payable } & 127,500 & 129,000 \\\hline \text { Salaries Payable } & 16,000 & 16,000 \\\hline \text { Long-term Note Payable } & 60,000 & 57,000 \\\hline\end{array} Compute working capital for 2019.


Definitions:

Psychoanalytic

A theory of personality and therapeutic method that attributes thoughts and actions to unconscious motives and conflicts, developed by Sigmund Freud.

Humanistic Brands

Brands that promote and reflect values centered on human welfare and the fulfillment of individual potential.

Self-Fulfilling Prophecy

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Regression Toward the Mean

The statistical phenomenon that if a variable is extreme on its first measurement, it will tend to be closer to the average on its second measurement, and vice versa.

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