Athenian Venues Inc. just reported the following selected portion of its financial statements for the end of

Question:

Athenian Venues Inc. just reported the following selected portion of its financial statements for the end of 2020. Your assistant has already calculated the 2020 end-of year net operating working capital (NOWC) from the full set of financial statements (not shown here), which is $13 million. The total net operating capital for 2019 was $50 million. What was the 2020 net investment in operating capital?

Athenian Venues Inc.: Selected Balance Sheet Information as of December 31
(Millions of Dollars)
2020
Assets
Cash ............................................................. $1
Short-term investments ............................. 4
Accounts receivable .................................... 8
Inventories ................................................. 11
Total current assets ................................. $24
Net plant and equipment ......................... 51
Total assets ............................................... $75

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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