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The balance sheet for Stevenson Corporation reported the following: noncurrent assets, $140,000; total assets, $440,000; noncurrent...

The balance sheet for Stevenson Corporation reported the following: noncurrent assets, $140,000; total assets, $440,000; noncurrent liabilities, $180,000; total stockholders’ equity, $98,000. Compute Stevenson’s working capital

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Answer #1

Total Assets = Current Assets + Non Current Assets

$ 440,000 =  Current Assets + $ 140,000

Current Assets = $ 440,000 - $ 140,000

= $ 300,000

Total Assets = Total Liabilities + Total Stock Holder's Equity

Total Assets = Current Liabilties + Non Current Liabilities+ Total Stock Holder's Equity

$ 440,000 = Current Liabilties + $ 180,000 + $ 98,000

Current Liabilties = $ 162,000

working capital = Current Assets - Current Liabilities

= $ 300,000 - $ 162,000

= $ 138,000

Hence the correct answer is $ 138,000

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