The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is
ID: 2491929 • Letter: T
Question
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Current assets: Current liabilities: Cash $ 72 Accounts payable $221 Accounts receivable (net) 181 Other liabilities 66 Notes receivable 67 Total current liabilities 287 Inventories 207 Long-term liabilities 94 Prepaid expenses 26 Total liabilities 381 Total current assets 553 Shareholders' equity: Plant assets (net) 261 Capital stock 141 Retained earnings 292 Total shareholders' equity 433 Total assets $814 Total liabilities and equity $814 Working capital is:Explanation / Answer
Working capital is the differecne of current assets and current liabilities
Working capital = Total current assets - Total current liabilities
= $553 - $287
= $ 266
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