A corporation reports the following year-end balance sheet data. The company's working capital equals: Cash$40,000 Current liabilities$75,000 Accounts receivable 55,000 Long-term liabilities 35,000 Inventory 60,000 Common stock 100,000 Equipment 145,000 Retained earnings 90,000 Total assets$300,000 Total liabilities and equity$300,000
A. $80,000
B. $300,000
C. $190,000
D. $155,000
E. $75,000
Answer: A
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