Earnhardt Driving School's 2017 balance sheet showed net fixed assets of $3.1 million, net working capital...

 

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Earnhardt Driving School's 2017 balance sheet showed net fixed assets of $3.1 million, net working capital of 1 million, and long-term debt of 0.5 million. The 2018 balance sheet showed net fixed assets of $3.0 million, net working capital of 2 million, and long-term debt of 1 million. The company's 2018 income statement showed a depreciation expense of $0.5 million and net income of 1.3 million. What was net capital spending for 2017? Earnhardt Driving School's 2017 balance sheet showed net fixed assets of $3.1 million, net working capital of 1 million, and long-term debt of 0.5 million. The 2018 balance sheet showed net fixed assets of $3.0 million, net working capital of 2 million, and long-term debt of 1 million. The company's 2018 income statement showed a depreciation expense of $0.5 million and net income of 1.3 million. What was net capital spending for 2017?

Answer rating: 100% (QA)

To calculate the net capital spending for 2017 we will use the formula Net Capital Spending ... View the full answer