Glenrsquos tobacco shop has total assets of 936 million, Ask an Expert

Finance

Glen’s Tobacco Shop has total assets of $93.6 million. Fifty percent of these assets are financed with debt of which $29.3 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $13.4 million.

What is the balance for long-term debt and retained earnings on Glen’s Tobacco Shop’s balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.)

Long-term debt $ m

Retained earnings $ m

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92056610

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