Question: Selected financial data regarding current assets and current liabilities for two competing companies, Simon and Garfunkel, are provided as follows: 5 in millions) Simon Garfunkel

Selected financial data regarding current assets and current liabilities for two competing companies, Simon and Garfunkel, are provided as follows: 5 in millions) Simon Garfunkel Current assets Cash and cash equivalents $ 630 $2,960 Short-term investments 3,620 Net receivables 984 1,380 Inventory 525 201 Other current assets 340 478 Total current assets $6,099 $5,019 Current liabilities Accounts payable $7,580 $4,270 Short-term debt 1,280 1,028 Other current liabilities @ 1,305 Total current liabilities $8,860 $6,603 1-a. Calculate the current ratlo for Simon. Then calculate the current ratio for Garfunkel (Round your answers to 2 decimal places Current Ratio Simon Garfunkel 1-6. Which of the two companies has the best current ratio? Simon Garfunkel 2-a. Calculate the acid-test (quick) ratio for Simon. Then calculate the acid-test (quick) ratio for Garfunkel (Round your answers to 2 decimal places.) Acid-test (quick) Ratio Simon Garfunkel 2.b. Which of the two companies has the best acid-test ratio? Garfunkel Simon
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