Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Valero Energy's balance sheet showed total current assets of $3,000, all of which were required in
operations (i.e., no excess cash). Its current liabilities consisted of $935 of accounts payable, $600 of
6% short-term notes payable to the bank, and $250 of accrued wages and taxes. What was its net
operating working capital (NOWC)?
Your answer should be between 1672 and 2027, rounded to even dollars (although decimal places
are okay), with no special characters.
1.215
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