1. Burt's TVs has current liabilities of $24.4 million. Cash makes up 35 percent of the current assets and accounts receivable makes up another 15 percent of current assets. Burt's current ratio = 1.01 times. What is the value of inventory listed on the firm's balance sheet? (Do not round intermediate steps.)
$8.54 m
$3.7 m
$12.32 m
$50 m
2. What annual rate of return is earned on a $1,600 investment when it grows to $3,700 in eleven years?
1.31%
2.31%
7.24%
7.92%