12:17 SmartBook Chapter 12 Question Completion Status: good attempty QUESTIONS 10 points Save Answer One More practice for balance sheet math? Consider a firm with Current Liabilities of $315, Long Term Debt of $2,069, Net Fixed Assets of $1,417 and Total Common Equity of $148. What is the firm's Current Assets? Hint: Start by finding the firm's Total Liabilities and Equity. Next remember this equals Total Assets. Now subtract Net Fixed Assets to find Current Assets You answer should be in dollars (example: $300 or 300 are both acceptable) On your own... think about how the firm's Total Liabilites is different than the firm's Total Debt See Section 3-2A for details on this comparison QUESTION 9 10 points Save Answer Taking a closer look at the Balance Sheet- Read Section 3-2A (1. Cash versus other assets, 2. Working Capital, and 3. Total debt versus total liabilities) Then answer the next several questions. The term "working capital" refers to current assets. You can think of those assets as capital that works throughout the year. The term "net often refers to cases when costs or other items, like liabilities) are subtracted out. So Net Working Capital represent Current Assets net of Current Liabilities. Solve for the net working capital below by following three steps Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers Save and Submit