I need help double checking my homework please help if you can. This is all one

Question

I need help double checking my homework please help if you can. This is all one problem, there are multiple parts to the problem but this is one problem please help if you can.

A firm has $680 in inventory, $2,320 in fixed assets, $280 in accounts receivables, $490 in accounts payable, and $130 in cash. What is the amount of the current assets?

A firm has net working capital of $820. Long-term debt is $3,260, total assets are $5,920 and fixed assets are $3,410. What is the amount of the total liabilities?

Your firm has total assets of $1,400, fixed assets of $600, long-term debt of $700, and short-term debt of $100. What is the amount of net working capital?

The Corner Store paid $1,100 in dividends and $850 in interest this past year. Common stock increased by $500 and retained earnings decreased by $260. What is the net income for the year?

Amy's Dress Shoppe has sales of $421,000 with costs of $342,000. Interest expense is $18,000 and depreciation is $33,000. The tax rate is 34 percent. What is the net income?

At the beginning of the year, a firm has current assets of $91,807 and current liabilities of $102,343. At the end of the year, the current assets are $89,476 and the current liabilities are $92,638. What is the change in net working capital?

Explanation / Answer

A firm has $680 in inventory, $2,320 in fixed assets, $280 in accounts receivables, $490 in accounts payable, and $130 in cash. What is the amount of the current assets? 680+280+130 = 1090 Answer: 1090 A firm has net working capital of $820. Long-term debt is $3,260, total assets are $5,920 and fixed assets are $3,410. What is the amount of the total liabilities? 5920 – 3410 = 2510 current assets. 2510- 820 = 1690 current liabilities Total liabilities = 1690+3260 = 4950 Answer: 4950 Your firm has total assets of $1,400, fixed assets of $600, long-term debt of $700, and short-term debt of $100. What is the amount of net working capital? 800 – 100 = 700; net working capital = current assets – current liabilities Answer: 700 The Corner Store paid $1,100 in dividends and $850 in interest this past year. Common stock increased by $500 and retained earnings decreased by $260. What is the net income for the year? 1100 – 260 = 840 Answer: 840 Amy's Dress Shoppe has sales of $421,000 with costs of $342,000. Interest expense is $18,000 and depreciation is $33,000. The tax rate is 34 percent. What is the net income? 421,000 – 342,000 – 18,000 – 33,000 = 28,000 34% of 28,000 is 9520 28,000 – 9520 = 18,480 = net income Answer: 18,480 At the beginning of the year, a firm has current assets of $91,807 and current liabilities of $102,343. At the end of the year, the current assets are $89,476 and the current liabilities are $92,638. What is the change in net working capital? Beginning working capital = 91807 – 102,343 = -10,536 Ending working capital = 89,476 – 92638 = -3162 Difference is an increase in working capital of 7374 Answer: 7374 increase in working capital

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