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Brendas Bar and Grill has total assets of $20.0 million, of which $14.0 million are current assets. Cash makes up 10 percent of the current
Brendas Bar and Grill has total assets of $20.0 million, of which $14.0 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 $17.0 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 Grills balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.)
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