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
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$244,000.
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$257,000.
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$167,000.
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$131,500.
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$158,000.
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