A firm's balance sheets as of December 31, 2021, and 2022 show the following items (in millions): 2021: Cash = $8.71; Account Receivable = $3.54; Inventory = $3.93; Gross Fixed Assets = $8.81; Accumulated Depreciation = $6.81; Retained Earnings = $1.54; Capital Surplus = $1.7; Common Stock ($0.50 par) = $1.82; Notes Payable = $4.39; Long term debt = $6.65; Accounts Payable= $2.08. 2022: Cash = $10.71; Account Receivable = $2.54; Inventory = $4.43; Gross Fixed Assets = $10.51; Accumulated Depreciation = $7.51; Retained Earnings = $2.54; Capital Surplus = $4.2; Common Stock ($0.50 par) = $3.62; Notes Payable = $4.69; Long term debt = $3.67; Accounts Payable = $1.96. Calculate the net capital spending in 2022. 3.20 None of these options are correct 0.70 2.50 1.70

A firm's balance sheets as of December 31,2021, and 2022 show the following items (in millions): 2021: Cash =$8.71; Account Receivable =$3.54; Inventory =$3.93; Gross Fixed Assets =$8.81; Accumulated Depreciation =$6.81: 2021: Cash =$8.71 : Account Receivable =$3.54: Inventory =$3.93; Gross Fixed Assets =$8.81; Accumulated Depreciation =$6.81 : Retained Earnings =$1.54; Capital Surplus =$1.7: Common Stock ($0.50 par ) =$1.82; Notes Payable =$4.39; Long term debt =$6.65; Accounts Payable = $2.08. 2022: Cash =$10.71; Account Receivable =$2.54; Inventory =$4.43; Gross Fixed Assets =$10.51; Accumulated Depreciation =$7.51; Retained Earnings =$2.54; Capital Surplus =$4.2; Common Stock ($0.50 par ) =$3.62; Notes Payable =$4.69; Long term debt =$3.67; Accounts Payable = $1.96. Calculate the net capital spending in 2022. 3.20 None of these options are correct 0.70 2.50 1.70