Hartzog Corporation's Most Recent Balance Sheet and Income Statement Appear

question 44

Multiple Choice

Hartzog Corporation's most recent balance sheet and income statement appear below: Dividends on common stock during Year 2 totaled $60 thousand. Dividends on preferred stock totaled $5 thousand. The market price of common stock at the end of Year 2 was $7.04 per share.
-The working capital at the end of Year 2 is:

• A)$610 thousand
• B)$860 thousand
• C)$310 thousand
• D)$710 thousand

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Definitions:

First Stage

The initial phase in a process or development where foundational elements are established.

Cost Objects

Items or activities for which costs are measured and assigned, such as products, services, or projects.

Plantwide Overhead Rate

A single rate used to allocate manufacturing overhead costs uniformly across all products within a plant or facility.

Overhead Allocations

The process of distributing indirect costs across various products, services, or departments within a business.