Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows:

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$($$ in millions$)$Ferris AirOceanic AirlinesCurrent assets:Cash and cash equivalents$$1,145$$$3,884$Current investments$3,0241,271$Net receivables$7311,764$Inventory$445308$Other current assets$190557$Total current assets$$5,535$$$7,784$Current liabilities:Current debt$$6,370$$$6,636$Accounts payable$2,5922,327$Other current liabilities$01,524$Total current liabilities$$8,962$$$10,487$

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Required:

$1-$a$.$ Calculate the current ratio for Ferris Air and Oceanic Airlines.

$1-$b$.$ Which company has the more favorable current ratio?

$2-$a$.$ Calculate the acid$-$test $($quick$)$ ratio for Ferris Air and Oceanic Airlines.

$2-$b$.$ Which company has the more favorable acid$-$test ratio?$$

Wages and salaries$$2,350,000$Employee contribution to voluntary retirement plan$117,500$Medical insurance premiums paid by employer$47,000$Dental insurance premiums paid by employer$16,450$Life insurance premiums paid by employer$8,225$Federal and state income tax withheld$505,250$FICA tax rate$7\mathrm{.}65\%$Federal and state unemployment tax rate$6\mathrm{.}20\%$