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Presented below is a partial trial balance for the Tom Company at December 31, 2015.
Additional information:
1. The note receivable, along with any accrued interest, is due on March 1, 2016.
2. The note payable is due in 2019. Interest is payable annually.
3. The stocks for investment consist of equity securities of other corporations. Management does not intend to sell any of the securities in the next year.
4. Unearned revenue will be earned equally over the next 24 months.
Required:
Determine the company's working capital (current assets minus current liabilities) at December 31, 2015
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