invested capital calculation

Invested capital = W/C + Net F.A. here, what is W/C and Net F.A.? Thanks.

Working capital and Net fixed assets.

OR long term debt + equity

what about short term debt?

short term is considered current liability (supposedly for this reading), thus is included in your working capital!!

assets - CL

it’s easy to see that since CA+FA=CL+LT+E CA-CL+FA=LT+E = by definition = invested capital (CA-CL = WC)