The financial statements of carrier office furniture company include the following items: 2019 2018 cash $42,500 $42,000 shortminusterm investments 28,000 19,000 net accounts receivable 102,000 98,000 merchandise inventory 166,000 148,000 total assets 527,000 547,000 total current liabilities 273,000 285,000 long-term note payable 64,000 60,000

what is working capital for 2019?

$65,500

Explanation:

Data provided in the question:

                                              2019       2018

Cash                                 $42,500   $42,000

Short-term Investments   28,000     19,000

Net Accounts Receivable 102,000    98,000

Merchandise Inventory     166,000    148,000

Total Assets                       527,000    547,000

Total Current Liabilities    273,000   285,000

Long-term Note Payable   64,000      60,000

Now,

Working capital = Current assets - Current liabilities

Also,

Current assets (i.e for the year 2019 )

= Cash + Short-term Investments + Net Accounts Receivable + Merchandise Inventory

= $42,500 + $28,000 + $102,000 + $166,000

= $338,500

and,

Current liabilities =  $273,000

Therefore,

Working capital for 2019 = $338,500 - $273,000

= $65,500

c, theres a double tax on the business earnings

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