Question
Lee and Barbara Fletcher own Boos and Roos Antiques and they have decided to sell the business so they can move to Sarasota, FL to
Lee and Barbara Fletcher own Boos and Roos Antiques and they have decided to sell the business so they can move to Sarasota, FL to be near their son and get away from winter once and for all.Boos and Roosis located in a small, stand-alone building that it owns.Lee and Barbara originally purchased the building for $275,000 and it is currently appraised at $675,000.The window treatments, furnishings, and display cabinets originally cost $200,000 and are currently valued at $188,700.The current inventory has a balance sheet value of $300,000 and its retail market value is typically 160% of its cost.Mary Ann expects the store to collect 90% of its accounts receivable of $20,000.The business has $16,000 in cash and $44,000 of debt, which will be assumed by the buyer.What is the market value ofBoos and Roos?
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