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

($ in millions)	Ferris Air						Oceanic Airlines
Current assets:
Cash and cash equivalents		$	1,245					$	4,884
Current investments			3,124						1,371
Net receivables			831						1,864
Inventory			545						408
Other current assets			290						657
Total current assets		$	6,035					$	9,184
Current liabilities:
Current debt		$	6,466					$	7,351
Accounts payable			2,692						2,427
Other current liabilities			0						1,624
Total current liabilities		$	9,158					$	11,402

Required:

1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.)

1-b. Which Airlines has the better current ratio?

multiple choice 1

• Ferris Air

• Oceanic Airlines

2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.)

2-b. Which Airlines has the better acid-test ratio?

multiple choice 2

• Ferris Air

• Oceanic Airlines