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 $ 100 Short-term investments 120 Accounts receivable 1,000 Inventories 900 Total current assets 52,120 Net plant and equipment 2,300 Total assets $4,420 Liababies and Equity Accounts payable $ 800 Accruals 300 Notes payable 160 Total current liabilities 51,260 Long-term debt 200 Total liabilities $1,960 Common stock 2,300 Retained earnings Total common equity $2.460 Total liabilities and equity 54,420 Enter your answer in millions. For example, an answer of 31 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number 860 million 160
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