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 20207 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 20207 Mimi's Gymnastics Inc.: Balance Sheets as of December 31 (Millions of dollars) 2020 Assets Cash $ 100 Short-term investments 120 Accounts receivable 1,000 Inventories 900 Total current assets $2,120 Net plant and equipment 2,300 Total assets $4,420 Llabilties and Equity Accounts payable 5 800 Accruals 300 Notes payable 160 Total current liabilities $1,260 Long-term det 700 Total liabilities $1,960 Common stock 2,300 Retoined earnings 160 Total common equity $2,460 Total tobilities and equity 54,420 Enter your answer in millions. For example, an answer of 1 milion should be entered ost, not 1,000,000 Round your answer to the nearest whole number million
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