1. At year-end 2016, XYZ's statement of financial position showed current assets = $700, fixed assets = $1,500, intangible assets = $200, current liabilities = $750, and long-term liabilities = $1,400. What is the value of the shareholders' equity account?
a. $650
b. $250
c. $1,100
d. $400
e. $500
2. If total assets = $650, fixed assets = $285, current liabilities = $160, equity = $265, long-term debt = $225, and current assets is the only remaining item on the statement of financial position, what is the value of net working capital?
a. $115
b. $15
c. $35
d. $65
e. $205