Question: Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current

Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided:

($ in millions)
Current assets:
Cash and cash equivalents $ 499
Current investments 86
Net receivables 275
Inventory 100
Other current assets 127

Total current assets $ 1,087

Current liabilities:
Accounts payable $ 1,005
Short-term debt 654
Other current liabilities 959

Total current liabilities $ 2,618

Required:

1. Calculate the current ratio and the acid-test ratio for Queen's Line.(Enter your answers in millions (i.e. 5,000,000 should be entered as 5).)

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