Question: Net Operating Working Capital (NOWC) Using the following balance sheets of Mimi's Gymnastics Inc., what is the net operating working capital (NOWC) for 2020? Mimi's
Net Operating Working Capital (NOWC) Using the following balance sheets of Mimi's Gymnastics Inc., what is the net operating working capital (NOWC) for 2020? Mimi's Gymnastics Inc.: Balance Sheets as of December 31 (Millions of Dollars) 2020 Assets Cash $ 150 Short-term investments 180 Accounts receivable 1,400 Inventories 800 Total current assets $ 2,530 Net plant and equipment 2,500 Total assets $ 5,030 Liabilities and Equity Accounts payable $ 400 Accruals 300 Notes payable 170 Total current liabilities $ 870 Long-term debt 800 Total liabilities $ 1,670 Common stock 2,500 Retained earnings 860 Total common equity $ 3,360 Total liabilities and equity $ 5,030 Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number. $ million
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