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The Following Information Was Taken from the Financial Statements of Ashley's

Question 11

Multiple Choice

The following information was taken from the financial statements of Ashley's Linens: Total current assets
$ 53,000
Property, plant, and equipment
6,000
Current liabilities
21,000
Long-term liabilities
4,000
Owner's equity
34,000
Beginning inventory
31,000
Ending inventory
33,000
Cost of goods sold
152,000
Net income
42,000

The working capital of Ashley's Linens is


A) $32,000.
B) $33,000.
C) $34,000.
D) $38,000.

Correct Answer:

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