Bear Tracks, Inc., has current assets of $2,190, net fixed assets of $9,500, cur

Question

Bear Tracks, Inc., has current assets of $2,190, net fixed assets of $9,500, current liabilities of $1,360, and long-term debt of $4,000.

What is the value of the shareholders’ equity account for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Shareholders' equity            $

How much is the company's net working capital? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Net working capital            $

Explanation / Answer

Total assets=Current assets+Net fixed assets

(2190+9500)=$11690

Total liabilities=Current liabilities+Long term debt

=(1360+4000)=$5360

Total assets=Total liabilties+Shareholders equity

1.Shareholders equity=(11690-5360)=$6330

2.Net working capital=(Current assets-Current Liabilities)

=(2190-1360)=$830.

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