Reference no: EM132492449
Joe Fellows is attempting to categorize several items from his company's financial statements so he can determine his working capital. Joe notices the following categories of accounts and amounts:
cash, $3,655;
accounts payable, $10,094;
accounts receivable, $14,669;
sales taxes due city of Phoenix, $972;
sales taxes due the Arizona Department of Revenue, $3,332;
inventory, $18,258;
wages payable, $5,635;
taxes payable (federal), $2,456;
money market fund, $12,965; and
computer, $3,997.
Question 1: What is the amount of net working capital?
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