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Problem 2-12 Market Values and Book Values [LO1] Klingon Widgets, Incorporated, purchased new cloaking machinery...

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Problem 2-12 Market Values and Book Values [LO1] Klingon Widgets, Incorporated, purchased new cloaking machinery four years ago for $4 million. The machinery can be sold to the Romulans today for $3.5 million. Klingon's current balance sheet shows net fixed assets of $3 million, current liabilities of $730,000, and net working capital of $228,000. If the current assets and current liabilities were liquidated today, the company would receive a total of $1.1 million cash. a. What is the book value of Klingon's total assets today? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) b. What is the sum of the market value of NWC and the market value of fixed assets? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g. 1,234,567

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