The balance sheet of the Oliva Manufacturing Company on June 30, 1988, is shown. During the next quarter, Oliva has gross sales of Rs.905,000, sells inventory valued at Rs.600,000, and manufactures Rs.620,000 of new inventory. They collect Rs. 780,000 of outstanding accounts receivable and extend new credit in the amount of Rs.801,000. Net income for the period is Rs.84,000, of which Rs.63,000 paid in dividends. None of other accounts have changed (except cash). (a) Construct a balance sheet as of September 30, 1988. (b) What was the level of net working capital on June 30, 1988 ?
The
(a) Construct a balance sheet as of September 30, 1988.
(b) What was the level of net
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