Bear Tracks, Inc., has current assets of $2,310, net fixed assets of $10,700, cu

Question

Bear Tracks, Inc., has current assets of $2,310, net fixed assets of $10,700, current liabilities of $1,420, and long-term debt of $4,120.

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

1)

Shareholders equity = Total assets - Total liabilities

Shareholders equity = ( 2,310 + 10,700) - ( 1,420 + 4,120)

Shareholders equity = $7,470

2)

Net working capital = Current assets - current liabilities

Net working capital = 2,310 - 1,420

Net working capital = $890

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