A firm has net working capital of $540. Long term debt is $3,410, total assets are $5,340 and fixed assets are $3,720. What is the amount of total liabilities? can you show the work

$1,060

Explanation:

Net working capital = current assets- current liabilities

Current assets will include cash and cash equivalents and  short term investments expected to mature within one year. Current liabilities are obligations due for payment in the current financial year.

Current assets will be :

Net working capital = $540,

Current assets = Total assets - fixed assets

Current assets = $5,340 - $3,720= $1600

Current liabilities = ?

$540= $1600- current liabilities

Current liabilities = $1600 - $540= $1060

Current liabilities =$1,060

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