Ch 8 Q 5

Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: Required: 1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. 1-b. Which company has the more favorable current ratio? 2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. 2-b. Which company has the more favorable acid-test ratio? Complete this question by entering your answers in the tabs below. Calculate the current ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Complete this question by entering your answers in the tabs below. Which company has the more favorable current ratio? Complete this question by entering your answers in the tabs below. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Complete this question by entering your answers in the tabs below. Which company has the more favorable acid-test ratio? Which company has the more favorable acid-test ratio