Net Working Capital. Winston Corporation has the following selected assets and liabilities:
|
Cash
|
$15,000
|
|
Accounts receivable
|
$20,000
|
|
Inventory
|
$37,000
|
|
Land
|
$70,000
|
|
Building
|
$190,000
|
|
Goodwill
|
$26,000
|
|
Accounts payable
|
$13,000
|
|
Salaries payable
|
$7,000
|
|
Taxes payable
|
$19,000
|
|
Mortgage payable
|
$80,000
|
|
Common stock
|
$100,000
|
|
Retained earnings
|
$82,000
|
Determine the company's net working capital.