Question: Selected financial data regarding current assets and current abilities for Ferris Air and Oceanic Airlines are provided as follows: Ferris Air Oceanic Airlines $1,275 3,154

Selected financial data regarding current assets and current abilities for Ferris Air and Oceanic Airlines are provided as follows: Ferris Air Oceanic Airlines $1,275 3,154 $ 5,184 1.390 (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 320 $6,185 687 $9,500 $6,225 $5,109 Required: 1-o. Calculate the current ratio for Ferris Air and Oceanic Airlines (Enter your answers in millions. For example, 55,500,000 should be entered as 5.5.) Answer is complete and correct. Current Ratio Total current assets Total current liabilities $ $ Ferris Air 6,185 8,947 Oceanic Airlines 9,601 0879 10,920 $ $ 0.691 2-o. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines (Enter your answers in millions. For example, 55,500,000 should be entered as 5.5.) Acid-Test Ratio Quick assets Total current liabilities * Answer is complete but not entirely correct. Ferris Air Oceanic Airlines S 5,610 X 9.166 x 063 $ 8.947 $ 10,920
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