Selected financial data regarding current assets and current liabilities for two competing companies, Simon and Garfunkel, are provided as follows: ($ in millions) Current assets Cash and cash equivalents Short-term investments Net receivables Inventory Other current assets Total current assets Current liabilities Accounts payable Short-term debt Other current liabilities Total current liabilities Req 1A Simon Reg 1B $660 3,690 981 505 330 $6,166 Req 2A $7,400 1,270 0 $8,670 Required: 1-a. Calculate the current ratio for Simon. Then calculate the current ratio for Garfunkel. 1-b. Which of the two companies has the best current ratio? 2-a. Calculate the acid-test (quick) ratio for Simon. Then calculate the acid-test (quick) ratio for Garfunkel. 2-b. Which of the two companies has the best acid-test ratio? Garfunkel Complete this question by entering your answers in the tabs below. $2,970 0 1,390 206 470 $5,036 Req 2B $4,265 1,029 1,307 $6,601 Calculate the current ratio for Simon. Then calculate the current ratio for Garfunkel. (Round your answers to 2 decimal places.)

Selected financial data regarding current assets and current liabilities for two competing companies, Simon and Garfunkel, are provided os follows: Required: 1.a. Colculote the current ratio for Simon. Then calculate the current ratio for Garfunicel. 1.b. Which of the two companies has the best current ratio? 2-a. Calculate the acld-test (qulck ratio for Simon. Then calculate the acid-test (quick) ratio for Garfunkel. 2-b. Which of the two companies has the best acid-test rotio? Complete this question by entering your answers in the tabs below. Calculate the current ratio for Simon. Then calculate the curment rotio for Garfunkel, (Hound vour answeri to 2 decima plactes.)