1. Cow, Inc. has current liabilities of $14,800 and accounts receivable of $12,800. The firm has total assets of $41,700 and net fixed assets of $18,900. The owners' equity has a book value of $17,500. What is the amount of the net working capital?
2. Your salary recently increased from $42,000 to $45,000 per year, an increase of about 7%. According to bls.gov, inflation was 2.1% in 2017. • What is your Real Income in 2017 as compared to the previous year? (Show calculation)
What was your real salary increase after taking inflation into account? (Show calculation)