Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2021. Account Title Debits Credits
Cash $20,000
Accounts receivable 130,000
Raw materials 24,000
Notes receivable 100,000
Interest receivable 3,000
Interest payable $5,000
Investment in
debt securities 32,000
Land 50,000
Buildings 1,300,000
Accumulated
depreciationâbuildings 620,000
Work in process 42,000
Finished goods 89,000
Equipment 300,000
Accumulated
depreciationâequipment 130,000
Patent (net) 120,000
Prepaid rent
(for the next two years) 60,000
Deferred revenue 36,000
Accounts payable 180,000
Notes payable 400,000
Restricted cash
(for payment of notes payable) 80,000
Allowance for uncollectible accounts 13,000
Sales revenue 800,000
Cost of goods sold 450,000
Rent expense 28,000

Additional Information:

a. The notes receivable, along with any accrued interest, are due on November 22, 2022.
b. The notes payable are due in 2025. Interest is payable annually.
c. The investment in debt securities consist of treasury bills, all of which mature next year.
d. Deferred revenue will be recognized as revenue equally over the next two years.

Required:
Determine the companyâs working capital (current assets minus current liabilities) at December 31, 2016.