A. $54

B. $87

C. $58

D. $38

Given the following financial information for Ryngaert & Sons, what is the 2018 net operating working capital (NOWC) in millions of dollars? The firm does not consider the cash held to be an "excess" amount. Income Statement (in millions) Sales Operating costs excluding depreciation $ 2017 300 255 $ N5 Depreciation EBITDA $ $ EBIT $ 2018 360 306 54 9 45 7 38 15 23 16 Interest $ $ $ $ $ $ 38 6 32 13 19 10 EBT $ $ Net income $ $ Taxes (40%) Common dividends 2018 2017 3 Balance Sheet (in millions) Assets Cash $ Accounts receivable $ Inventories Total current assets $ Net plant & equipment $ Total assets $ 4 54 54 112 90 202 $ $ $ $ $ $ 45 60 108 75 183 Liabilities and Equity laxes (40%) Net income $ $ 23 16 76A GA 19 10 Common dividends 2018 2017 Balance Sheet (in millions) Assets Cash $ Accounts receivable $ Inventories $ Total current assets $ Net plant & equipment $ Total assets $ 4 54 54 112 90 202 $ $ $ $ 3 45 60 108 75 183 Liabilities and Equity Accounts payable $ Accured liabilities Notes payable Total current liabilities $ Long-term bonds $ Total liabilities $ Common stock (50,000,000 shares) $ Retained earnings Common equity$ Total liabilities and equity $ 32 22 20 74 45 119 15 68 Aantat AAAAA 28 18 16 62 45 107 83 202 61 76 183