Square Hammer Corp. shows the following information on its 2018 income statement: Sales = $264,000; Costs =
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Question:
Square Hammer Corp. shows the following information on its 2018 income statement: Sales = $264,000; Costs = $170,000; Other expenses = $7,900; Depreciation expense = $14,500; Interest expense = $13,300; Taxes = $20,405; Dividends = $10,000. In addition, you are told that the firm issued $4,800 in new equity during 2018 and redeemed $3,300 in outstanding long-term debt.
If net fixed assets increased by $28,000 during the year, what was the addition to NWC? (Do not round intermediate calculations.)
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