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Lawrence Company has the following amounts related to its most recent year-end balance sheet: Cash...

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Accounting

Lawrence Company has the following amounts related to its most recent year-end balance sheet: Cash $10,000 Accounts Receivable $20,000 Inventory $50,000 Plant & Equipment $120,000 Total Assets $200,000 Accounts Payable $40,000 Long-Term Notes Payable $60,000 Owners Equity $100,000 Based upon this information, what is Lawrence Companys working capital?

Group of answer choices

2:1

$100,000

$40,000

0.75:1

Answer & Explanation Solved by verified expert
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