Answer:
Chang and Smith Tours
The amount of net working capital for 2019 is:
$828.
Explanation:
a) Data and Calculations:
Chang and Smith Tours
Balance sheets: Â Â Â Â Â Â Â Â Â Â Â Â 2018 Â Â Â Â Â Â 2019
Assets
Cash                      $209       $197
Accounts Receivable          684       726
Inventory                    918      1,023
Net Fixed Assets            2,014      1,944
Total Assets              $3,825    $3,890
Liabilities and Equity
Accounts Payable           $748      $818
Notes Payable               306       300
Long-Term Debt            1,647      1,724
Stockholders' Equity         1,118      1,048
Total Liabilities and Equity  $3,819     $3,890
Working capital:
Current assets:
Cash                      $209       $197
Accounts Receivable          684       726
Inventory                    918      1,023
Less current liabilities
Accounts Payable           $748      $818
Notes Payable               306       300
Net working capital         $757      $828
b) The net working capital is the difference between current assets and current liabilities.
