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Brenda’s Bar and Grill has total assets of $26.0 million,

/in /by

Brenda’s Bar and Grill has total assets of $26.0 million, of which
$20.0 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 $20.0 million and other long-term assets have a book value of $700,000.

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.)

Inventory $ …. m
Depreciation$ …… m

 
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