EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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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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