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Problem 2-18 Balance Sheet (LG2-1) Sophie's Tobacco Shop has total assets of $94.8 million. Fifty percent of these assets are financed with debt of which

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Problem 2-18 Balance Sheet (LG2-1) Sophie's Tobacco Shop has total assets of $94.8 million. Fifty percent of these assets are financed with debt of which $29.6 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $16,4 million. What is the balance for long-term debt and retained earnings on Sophie's Tobacco Shop's balance sheet? (Enter your answers in millions of dollars rounded to 1 decimal place.) Long-term debt million Retained earnings million

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