A firm’s balance sheets for year-end 2018 and 2019 contain the following data. All items are in millions of dollars. Dec. 31, 2018 Dec. 31, 2019 Accounts receivable 33.0 36.5 Inventories 26.0 30.5 Accounts payable 13.0 26.5 What happened to investment in net working capital during 2019? (Enter your answer in millions rounded to 1 decimal place.)
A firm’s balance sheets for year-end 2018 and 2019 contain the following data. All items are in millions of dollars. Dec. 31, 2018 Dec. 31, 2019 Accounts receivable 33.0 36.5 Inventories 26.0 30.5 Accounts payable 13.0 26.5 What happened to investment in net working capital during 2019? (Enter your answer in millions rounded to 1 decimal place.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 54CE
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A firm’s balance sheets for year-end 2018 and 2019 contain the following data. All items are in millions of dollars.
| Dec. 31, 2018 | Dec. 31, 2019 | |
| Accounts receivable | 33.0 | 36.5 |
| Inventories | 26.0 | 30.5 |
| Accounts payable | 13.0 | 26.5 |
What happened to investment in net working capital during 2019? (Enter your answer in millions rounded to 1 decimal place.)
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