Use the following data to determine the total amount of working
capital.
Novak Corp.
Balance Sheet
December 31, 2017
Cash
$189000
Accounts
payable
$206000
Accounts receivable
146000
Salaries and
wages payable
25000
Inventory
155000
Mortgage payable
246000
Prepaid insurance
94800
Total
liabilities $477000
Stock investments (long-term)
264000
Land
255000
Buildings
$314000
Common
stock $343800
Less: Accumulated depreciation
(60000) 254000
Retained earnings
744000
Trademarks
207000
Total stockholders'
equity $1087800
Total assets
$1564800
Total
liabilities and
stockholders' equity
$1564800
$123800
$173800
$383800
$353800
Multiple Choice Question 86
Swifty Corporation has assets of $3590000, common stock of
$941000, and retained earnings of $600000. What are the creditors’
claims on their assets?