Question: I only need 2a Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne

I only need 2a I only need 2a Selected financial data regarding current assets and currentliabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation

Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises $ 416 545 10,551 ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Current debt Accounts payable Other current liabilities Total current liabilities $ 305 498 226 8,809 275 $ 10, 113 1,316 $12,834 $ 8,821 1,827 1,014 $11,662 $ 4,136 1,081 2,325 $ 7,542 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Answer is complete and correct. Current Ratio Total current assets Total current liabilities $ $ ACME Corporation 12,834 1.100 11,662 $ $ Wayne Enterprises 10,113 1.341 7,542 1-b. Which company has the better ratio? ACME Corporation Wayne Enterprises 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Answer is not complete. Wayne Enterprises Acid-Test Ratio Quick assets Total current liabilities $ $ ACME Corporation 2,212 11,662 0.190 $ 7,542 2-b. Which company has the better ratio? ACME Corporation Wayne Enterprises

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