Muffins Masonry, Inc.s, balance sheet lists net fixed assets as $26.00 million.

Question

Muffins Masonry, Inc.s, balance sheet lists net fixed assets as $26.00 million. The fixed assets could currently be sold for $43.00 million. Muffins current balance sheet shows current liabilities of $11.50 million and net working capital of $10.50 million. If all the current accounts were liquidated today, the company would receive $7.85 million cash after paying the $11.50 million in current liabilities. What is the book value of Muffins Masonrys assets today and the market value of these assets? (Enter your answers in millions of dollars rounded to 2 decimal places.)

BOOK VALUE MARKET VALUE   Current assets $ m $ m     Fixed assets m m     Total $ m $ m  

Explanation / Answer

Book Value Market Value Current Assets 11.5M + 10.5M = 22M 11.5M + 7.85M = 19.35M Fixed Assets 26M 43M

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