Excerpts from Colter Corporation's most recent balance sheet appear below:
Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.
-The working capital at the end of Year 2 is:
A) $850
B) $770
C) $400
D) $80

Question

Excerpts from Colter Corporation's most recent balance sheet appear below:
  Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.
-The working capital at the end of Year 2 is:
A) $850 
B) $770 
C) $400 
D) $80

Quizplus · Accepted Answer

Working capital = Current assets - Current liabilities
= $400- $320 = $80

Excerpts from Colter Corporation's Most Recent Balance Sheet Appear Below