Question: Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows. ($ in millions) ACME Corporation Wayne

Selected financial data regarding current assets and current liabilities for ACME Corporation

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 $535 $145 Current investments 5 519 159 Net receivables 510 66 Inventory 10,699 7,209 Other current assets 1,378 115 Total current assets. $13,127 $8,054 k Current liabilities: Current debt $7,221 $4,223 Accounts payable 1,667 9211 Other current liabilities 1,033 2,582 nces Total current liabilities $9,921 $7,726 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?

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