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Problem 1. Cash Equation: Bettendorf Corporation has a book net worth of $17,800. The company's long-term debt is $6,900. Its net working capital, excluding cash, is $1,600. Its fixed assets are $21,300. How much cash does the company have? If the current liabilities are $2,575, what are the current assets?

This was my answer, but the professor marked it as incorrect:

Cash (net worth+ltd+liab-NWC-fixed assets) $ 4,375.00

Current assets (cash + NWC - liab) $ 3,400.00

Macroeconomics, Economics

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