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Question: Brenda's Bar and Grill has total assets of $28.0 million, of which $22.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brenda's gross plant and equipment has a book value of $21.0 million and other long-term assets have a book value of $300,000.

What is the balance of inventory and the balance of depreciation on Brenda's Bar and Grill's balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.)

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Category:- Basic Finance
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