1.

Brendas Bar and Grill has total assets of $29.0 million, of which $23.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brendas gross plant and equipment has a book value of $21.5 million and other long-term assets have a book value of $400,000.

What is the balance of inventory and the balance of depreciation on Brenda's Bar and Grills balance sheet?

2.

Glens Tobacco Shop has total assets of $95.6 million. Fifty percent of these assets are financed with debt of which $29.8 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $18.4 million.

What is the balance for long-term debt and retained earnings on Glens Tobacco Shops balance sheet?(Enter your answers in millions of dollars rounded to 1 decimal place.)