From the following data, compute the working capital for Monson Equipment Co. at December 31, 2008.

Cash in general checking account . . . . . . . . . . . . . . . . . . . $ 25,000

Cash in fund to be used to retire bonds in 2012 . . . . . . . . 60,000

Cash held to pay sales taxes . . . . . . . . . . . . . . . . . . . . . . . . 16,000

Notes receivable—due February 2010 . . . . . . . . . . . . . . . . 110,000

Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,000

Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72,000

Prepaid insurance—for 2009 . . . . . . . . . . . . . . . . . . . . . . . . 18,000

Vacant land held as investment . . . . . . . . . . . . . . . . . . . . . . 250,000

Used equipment to be sold . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000

Deferred tax asset—to be recovered in 2010 . . . . . . . . . . . . 13,000

Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000

Note payable—due July 2009 . . . . . . . . . . . . . . . . . . . . . . . . $ 38,000

Note payable—due January 2010 . . . . . . . . . . . . . . . . . . . . . 15,000

Bonds payable—maturity date 2012 . . . . . . . . . . . . . . . . . . . 230,000

Salaries payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000

Sales taxes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000

Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,000