Kimbo Widgets Inc. purchased new cloaking machinery three years ago for $7 million. The machinery can be sold to the Rimalons today for $4.9 million. Kimbo’s current statement of financial position shows net fixed assets of $3.7 million, current liabilities of $1.1 million, and net working capital of $380,000. If all the current assets were liquidated today, the company would receive $1.6 million cash. (Do not round intermediate calculations. Enter the answers in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.)

What is the book value of Kimbo’s total assets today?

Total asset book value $

What is the market value?

Total asset market value $

Answer rating: 100% (QA)

1 Current assets NWC Current liabilities Current assets 380000 1100000 ... View the full answer