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Sheffield Co. shows the following information on its 2010 income statement: sales = $161,500; costs = $80,200; other expenses = $3,500; depreciation expense = $9,200; interest expense = $6,700; taxes = $21,665; dividends = $8,050. In addition, you're told that the firm issued $4,300 in new equity during 2010, and redeemed $7,300 in outstanding long-term debt.

problem: Assuming net fixed assets increased by $21,100 during the year, what was the addition to NWC?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945273

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