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Metro Dine & Lounge has total assets of $22 million, of which $14 million are current assets. • • Cash makes up 15% of the current assets. Accounts receivable make up 35% of the current assets. • Gross plant and equipment has a book value of $20 million, and • Other long-term assets have a book value of $600,000. What is the balance of inventory and the balance of accumulated depreciation on Metro Dine & Lounge's balance sheet?

Metro Dine & Lounge has total assets of $22 million, of which $14 million are current assets. • • Cash makes up 15% of the current assets. Accounts receivable make up 35% of the current assets. • Gross plant and equipment has a book value of $20 million, and • Other long-term assets have a book value of $600,000. What is the balance of inventory and the balance of accumulated depreciation on Metro Dine & Lounge's balance sheet?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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Metro Dine & Lounge has total assets of $22 million, of which $14 million are current assets. • • Cash makes up 15% of the current assets. Accounts receivable make up 35% of the current assets. • Gross plant and equipment has a book value of $20 million, and • Other long-term assets have a book value of $600,000. What is the balance of inventory and the balance of accumulated depreciation on Metro Dine & Lounge's balance sheet?
Transcribed Image Text:Metro Dine & Lounge has total assets of $22 million, of which $14 million are current assets. • • Cash makes up 15% of the current assets. Accounts receivable make up 35% of the current assets. • Gross plant and equipment has a book value of $20 million, and • Other long-term assets have a book value of $600,000. What is the balance of inventory and the balance of accumulated depreciation on Metro Dine & Lounge's balance sheet?
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