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Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital...

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Accounting

Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2.

Year 2 Year 1
Cash $ 38,400 $ 33,150
Short-term investments 99,000 64,500
Accounts receivable, net 90,000 84,000
Merchandise inventory 125,500 129,500
Prepaid expenses 13,000 10,600
Plant assets 392,500 342,500
Accounts payable 108,900 112,300
Net sales 715,500 680,500
Cost of goods sold 394,500 379,500

Multiple Choice

  • $244,000.

  • $257,000.

  • $167,000.

  • $131,500.

  • $158,000.

Answer & Explanation Solved by verified expert
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