Mikey's Bar and Grill has total assets of $14 million, of which $8 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Mikey's gross plant and equipment has a book value of $14.0 million, and other long- term assets have a book value of $700,000. What is the balance of Inventory and the balance of depreciation on Mikey's Bar and Grill's balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.) Inventory Depreciation million million

Mikey's Bar and Grill has total assets of $14 million, of which $8 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Mikey's gross plant and equipment has a book value of $14.0 million, and other long- term assets have a book value of $700,000. What is the balance of Inventory and the balance of depreciation on Mikey's Bar and Grill's balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.) Inventory Depreciation million million

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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