Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows:

($ in millions)	ACME Corporation	Wayne Enterprises
Current assets:
Cash and cash equivalents	$520	$255
Current investments	7	484
Net receivables	531	176
Inventory	10,500	8,309
Other current assets	1,252	225
Total current assets	$12,810	$9,449
Current liabilities:
Current debt	$8,321	$4,563
Accounts payable	1,777	1,031
Other current liabilities	1,071	2,400
Total current liabilities	$11,169	$7,994

Required:

1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. 1-b. Which company has the more favorable ratio? 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. 2-b. Which company has the more favorable ratio?

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.)

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Current 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.)

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Acid-Test Ratio	ACME Corporation			Wayne Enterprises
		=	0		=	0

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