Question: Selected financial data regarding current assets and current liabilities for Duchess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current
Selected financial data regarding current assets and current liabilities for Duchess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents $442 Current investments 90 Net receivables 220 Inventory 104 Other current assets 129 Total current assets $985 Current liabilities: Accounts payable $1,160 Short-term debt 664 Other current liabilities 949 Total current liabilities $2,773 Required: 1. Calculate the current ratio and the acid-test ratio for Duchess's Line.
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