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Problem 3-15 Liquidity Ratios (LG3-1) Brenda's Bar and Grill has current liabilities of $28 million. Cash and marketable securities makes up 15 percent of the
Problem 3-15 Liquidity Ratios (LG3-1) Brenda's Bar and Grill has current liabilities of $28 million. Cash and marketable securities makes up 15 percent of the current assets and accounts receivable makes up another 30 percent of current assets. Brenda's current ratio is 2.0 times. Calculate the value of inventory listed on the firm's balance sheet. (Enter your answer in millions of dollars rounded to 2 decimal places.) Answer is complete but not entirely correct. Value of inventary $ 11.20 million
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