Brenda’s Bar and Grill has total assets of $15 million of which $5 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 $11.5 million and other long-term assets have a book value of $500,000. Using this information, what is the balance of inventory and the balance of depreciation on Brenda Bar and Grill’s balance sheet?
Answer to relevant QuestionsGlen’s Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are financed with debt of which $28.9 million is current liabilities. The firm has no preferred stock but the balance in common stock and ...You have been given the following information for Corky’s Bedding Corp.: a. Net sales = $11,250,000 b. Cost of goods sold = $7,500,000; c. Other operating expenses = $250,000;d. Addition to retained earnings = $1,000,000; ...Use the balance sheet and following income statement to construct a statement of cash flows for Valium’s Medical SupplyCorporation.You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2015: a. Net sales = $38,250,000; b. Cost of goods sold = $22,070,000;c. Other operating expenses = $5,300,000;d. Addition to ...A firm has a debt ratio of 20 percent. The industry average debt ratio is 65 percent. Is this a good or poor sign about the management of the firm’s financial leverage?
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