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)
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 Current investments Net receivables Inventory $ 388 85 243 124 Other current assets 139 Total current assets $ 979 Current liabilities: Accounts payable Short-term debt $1,105 714 Other current liabilities Total current liabilities 899 $2,718 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 Acid-Test Ratio
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