Firebird Company reported the following financial information at the end of 2007:
Calculate Firebird’s current assets and working capital.
in millions Merchandise inventory $240
Minority interest 70
Cash and equivalents 275
Accounts receivable 1,150
Accounts payable 225
Property & equipment 2,160
Accrued expenses 830
Current portion of long-term debt 120 Long-term debt 1,570 Retained earnings 4,230
| Current assets | Working capital |
| $1,665 million | $420 million |
| $1,665 million | $490 million |
| $1,735 million | $490 million |
