Question

Airline Accessories has the following current assets: cash, $112 million; receivables, $104 million; inventory, $192 million; and other current assets, $28 million. Airline Accessories has the following liabilities: accounts payable, $118 million; current portion of long-term debt, $45 million; and long-term debt, $33 million.
Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories.



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  • CreatedJuly 15, 2014
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