Quantitative Problem:Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below.

Quantitative Problem: Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below. Balance Sheets: 2013 2012 Cash and equivalents $100 $85 Accounts receivable 275 300 Inventories 375 350 Total current assets $750 $735 Net plant and equipment 2,000 1,490 Total assets $2,750 $2,225 Accounts payable $150 $85 Accruals 75 50 Notes payable 150 175 Total current liabilities $375 $310 Long-term debt 450 290 Common stock 1,225 1,225 Retained earnings 700 400 Total liabilities and equity $2,750 $2,225Income Statements: 2013 2012 Sales $2,000 $1,500 Operating costs excluding depreciation 1,250 1,000 EBITDA $750 $500 Depreciation and amortization 100 75 EBIT $650 $425 Interest 62 45 EBT $588 $380 Taxes (40%) 235 152 Net income $353 $228 Dividends paid $53 $48 Addition to retained earnings $300 $180 Shares outstanding 100 100 Price $25.00 $22.50 WACC 10.00% The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. What is Rosnan's 2013 net operating working capital (NOWC)? What is Rosnan's 2013 net working capital (NWC)? $