Determine the working capital?

Given:

Shaku Company Ltd.

Stock……………………..N3600 000
Cash at hand……………….N800 000
Cash at bank……………….N2400 000
Debtors……………………N580 000
Trade creditors…………….N920 000
Bank overdraft……………..N200 000
Tax liabilities…………….N600 000
Salary owed to staff………..N180 000

A. N7380 000
B. N8480 000
C. N5480 000
D. N6480 000

Correct Answer:

Option C – N5480 000