Question: Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: (s in millions)
Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: (s in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory $331 63 230 116. Other current assets 135 Total current assets $875 Current liabilities: Accounts payable $1,025 694 Other current liabilities 919 $2,638 Short-term debt Total current liabilities Required: 1. Calculate the current ratio and the acid-test ratio for Queen's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.) Current Ratio Accounts in Ratio Amounts Acid-Test Ration Accounts in Ratio. Amounts
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
