Calculate the firms working capital

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Reference no: EM132072480

Question :

After reviewing the balance sheet and income statement for Jax Capital you notice the following financial figures (in millions):

Sales $19, Cost of Sales $14, Gross Profit $5, Inventory $4, Cash $2, Accounts Payable $3, and Accounts Receivable $2.

You also notice that the firm is paying a tax rate of 5%. Using this information, calculate the firm's working capital.

Reference no: EM132072480

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