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The beginning balance sheet of Steelo, Inc
The beginning balance sheet of Steelo, Inc., showed current assets of $4,630 and current liabilities of $2,190. The ending balance sheet showed current assets of $5,180 and current liabilities of $2,830. What was the company's change in net working capital.
Expert Solution
Computation of the change in net working capital:-
Beginning net working capital = Beginning current assets - Beginning current liabilities
= $4,630 - $2,190
= $2,440
Ending net working capital = Ending current assets - Ending current liabilities
= $5,180 - $2,830
= $2,350
Change in net working capital = Ending net working capital - Beginning net working capital
= $2,350 - $2,440
= -$90
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