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

($ in millions)	Simon				Garfunkel
Current assets
Cash and cash equivalents	$	620			$	2,920
Short-term investments		3,690				0
Net receivables		992				1,330
Inventory		510				203
Other current assets		335				477
Total current assets	$	6,147			$	4,930
Current liabilities
Accounts payable	$	7,220			$	4,285
Short-term debt		1,270				1,028
Other current liabilities		0				1,306
Total current liabilities	$	8,490			$	6,619

1-a. Calculate the current ratio for Simon. Then calculate the current ratio for Garfunkel. (Round your answers to 2 decimal places.)

1-b. 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.)

2-b. Which of the two companies has the best acid-test ratio?

• Garfunkel

• Simon