(Answered) Kurts kite company inc had net income of 640000 last

Management Studies

Kurt's Kite Company, Inc. had Net Income of $640,000 last year. They have interest expense of $76,000 and a tax rate of 35%. The firm did not have any deprecation during the year. If the firm bought $129,000 worth of fixed assets and did not sell any. The firm has CFFA of $570,385. If their current NWC is $78,000, how much was last year NWC?

A.$32,889
B.$45,615
C.$61,385
D.$41,892

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