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

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 $389 $225
Current investments 6 547
Net receivables 581 146
Inventory 10,618 8,009
Other current assets 1,345 195
Total current assets $12,939 $9,122
Current liabilities:
Current debt $8,021 $4,206
Accounts payable 1,747 1,001
Other current liabilities 1,151 2,495
Total current liabilities $10,919 $7,702

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?

1A: Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.)

1B Which company has the more favorable ratio?

2A: Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.)

2B: Which company has the more favorable ratio?

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