Problem 8-9A Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises ($ 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 $ 499 7 751 10,586 1,344 $13,187 $ 285 530 206 8,609 255 $9,885 $ 8,621 1,807 1,179 $11,607 $4,451 1,061 2,381 $7,893 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.) Current Ratio Total current assets Total current liabilities $ $ ACME Corporation + 13,187 1.136 11,607 $ $ Wayne Enterprises 9,449 1.197 7,893 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.) Acid-Test Ratio ACME Corporation Wayne Enterprises Quick assets Total current liabilities $ 11,607 $ 7,893