Question: Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Wayne (s in millions) Corporation Enterprises


Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Wayne (s in millions) Corporation Enterprises Current assets: Cash and cash equivalents $ 446 $ 315 Current investments 7 543 Net receivables 853 236 Inventory 10,539 8,909 Other current assets 1,226 285 Total current assets $13,071 $10,288 Current liabilities: Current debt $ 8,921 $ 4,260 Accounts payable 1,837 1,091 Other current liabilities 1,178 2,526 Total current liabilities $11,936 $ 7,877 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 ACME Corporation Wayne Enterprises 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.) Acid-Test Ratio ACME Corporation Wayne Enterprises 2-b. Which company has the better ratio? ACME Corporation Wayne Enterprises
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