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The balance sheet of Flexor Company at December 31, 2004 showed the following: Cash, $4,200; Accounts...

The balance sheet of Flexor Company at December 31, 2004 showed the following: Cash, $4,200; Accounts Recievable, $10,300; Notes Recievable (Long Term), $23,000; Merchandise Inventory, $55,500; Prepaid insurance, $1,200; Notes Payable (short term), $20,000; Accounts Payable, $25,200; Current Portion of Long Term Debt, $8,000; Mortgage Payable, $80,200

How much was the working capital at December 31, 2004?

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