Question: Problem 8-9B Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided
Problem 8-9B Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: (in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Ferris Air Oceanic Airlines 448 697 $1,285 $ 5,284 3,164 1,411 871 1,904 585 Other current assets, 330 Total current assets $6,235 $ 9,744 Current liabilities: Current debt $6,409 $ 6,629 Accounts payable 2,732 Other current liabilities Total current liabilities $9,141 2,467 1,664 $10,760 Required: 1-a. 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.) Current Ratio Ferris Air Oceanic Airlines
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