A firm reports the following balance sheet items; total current liabilities of $535,000; total assets of $2,500,000; net working capital of $115,000; and long-term debt of $200,000. What is the amount of the firm's current assets?
A) $1,315,000
B) $1,965,000
C) $650,000
D) $735,00
C
Explanation: C) C/A = NWC + C/L = $115,000 + $535,000 = $650,000
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