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Kimbo Widgets Inc. purchased new cloaking machinery five years ago for $5 million. The machinery can be sold to the Rimalons today for $4.1 million.
Kimbo Widgets Inc. purchased new cloaking machinery five years ago for $5 million. The machinery can be sold to the Rimalons today for $4.1 million. Kimbos current statement of financial position shows net fixed assets of $2.8 million, current liabilities of $0.72 million, and net working capital of $230,000. If all the current assets were liquidated today, the company would receive $0.99 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.)
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