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Market Values and Book Values [LO1] Klingon Widgets, Inc., purchased new cloaking machinery three years ago...

Market Values and Book Values [LO1] Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $5.1 million. Klingon’s current balance sheet shows net fixed assets of $3.4 million, current liabilities of $895,000, and net working capital of $235,000. If the current assets and current liabilities were liquidated today, the company would receive a total of $1.15 million cash. What is the book value of Klingon’s total assets today? What is the sum of the market value of NWC and the market value of fixed assets?

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