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Sophie's Tobacco Shop has total assets of $92.8 million. Fifty percent of these assets are financed with debt, of which $29.1 million is current
Sophie's Tobacco Shop has total assets of $92.8 million. Fifty percent of these assets are financed with debt, of which $29.1 million is current liabilities. The firm has no preferred stock, but the balance in common stock and paid-in surplus is $11.4 million. What is the balance for long-term debt and retained earnings on Sophie's Tobacco Shop's balance sheet? Note: Enter your answers in millions of dollars rounded to 1 decimal place. (i.e., Enter 5,500,000 as 5.5.) Long-term debt Retained earnings million million
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