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Given the following information about Jones Corporation, what are Jones's working capital needs using the Bardahl formula, assuming that federal income taxes are not an operating expense?

Average inventory   $ 33,000
Cost of goods sold   300,000
Purchases   250,000
Average accounts receivable balance   80,000
Average credit sales   320,000
Average accounts payable balance   30,000
Operating expense   400,000
Depreciation claimed as operating expense   50,000
Federal income taxes   25,000
Advances to suppliers   30,000
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Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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We have the most crude accounting tools. It's tragic because our accounts and our national arithmetic doesn't tell us the things that we need to know.

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