Use the following data to determine the total amount of working capital. Reyes Draperies and Blinds...

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Use the following data to determine the total amount of working capital. Reyes Draperies and Blinds Corporation Balance Sheet December 31, 2022 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings Less: Accumulated $ 195,000 210,000 165,000 30,000 255,000 270,000 $315,000 depreciation (40,000) 275,000 190,000 $1,590,000 Goodwill Total assets Accounts payable $ 180,000 Salaries and wages payable 30,000 Note payable (due 2025) Total liabilities 270,000 480,000 Common stock Retained earnings 360,000 750,000 Total stockholders' equity 1,110,000 Total liabilities and stockholders' equity $1,590,000 Use the following data to determine the total amount of working capital. Reyes Draperies and Blinds Corporation Balance Sheet December 31, 2022 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings Less: Accumulated $ 195,000 210,000 165,000 30,000 255,000 270,000 $315,000 depreciation (40,000) 275,000 190,000 $1,590,000 Goodwill Total assets Accounts payable $ 180,000 Salaries and wages payable 30,000 Note payable (due 2025) Total liabilities 270,000 480,000 Common stock Retained earnings 360,000 750,000 Total stockholders' equity 1,110,000 Total liabilities and stockholders' equity $1,590,000

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Working capital is calculated by subtracting current liabilities fro... View the full answer