The Following Balance Sheet Information Is Provided for Apex Company

question 39

Multiple Choice

The following balance sheet information is provided for Apex Company for Year 2: What is the company's working capital?
$\begin{array}{|l|r|}\hline \text { Assets } & \\\hline \text { Cash } & \$ \\\hline \text { Accounts receivable } & 5,400 \\\hline \text { Inventory } & 15,500 \\\hline \text { Prepaid expenses } & 18,000 \\\hline \text { Plant and equipment, net of depreciation } & 1,600 \\\hline \text { Land } & 20,200 \\\hline \text { Total assets }&\$80,650\\\hline \\\hline \text { Liabilities and Stockholders' Equity } & \\\hline \text { Accounts payable } & \$4,500 \\\hline \text { Salaries payable } & 11,500\\\hline \text { Bonds payable (Due in 2020) } &19,000 \\\hline \text { Common stock, no par } &30,000 \\\hline \text { Retained earnings } & 15,650 \\\hline \text { Total liabilities and stockholder' equity }&\$80,60\\\hline\end{array}$

• A)$20,300
• B)$4,900
• C)$22,900
• D)$24,500

---

Definitions:

Markets

These are venues or systems where buyers and sellers interact to exchange goods, services, or financial instruments, often determining prices through supply and demand.

Operating Objectives

Specific, short-term targets set by a business or organization to ensure effective day-to-day operations and progress towards its broader goals.

Continuous Improvement

An ongoing effort to enhance products, services, or processes through incremental improvements or breakthrough achievements.

SWOT Analysis

An examination of organizational strengths and weaknesses and environmental opportunities and threats.