(Answered) Balance of inventory and balance of depreciation

Economics

Question: Brenda's Bar and Grill has total assets of $11.0 million, of which $4.0 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 $12.5 million and other long-term assets have a book value of $400,000.

Required: 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.) Provide justifications and citations for your responses.

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Balance of inventory and balance of depreciation

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