Reference no: EM133150159

Question - Your review of the ledger of J Company at December 31, 2021 reveals the following:

Amounts due from customers 148,000

Land for future plant site 1,350,000

Amounts due to suppliers 124,000

Income taxes owed BIR 16,000

Citibank - current account 98,000

Advances from customers 150,000

Accrued interest on bonds payable 17,000

Sinking fund for bond retirement 30,000

Allowance for uncollectible accounts 12,000

Provision for warranties 60,000

Inventories including office supplies of P3,500 221,000

Deferred tax liability, expected to reverse in 2022 18,000

Required - Determine the company's working capital at December 31, 2021.