Question: Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises $ 2,494 ($
Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises $ 2,494 ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Current debt Accounts payable Other current liabilities Total current liabilities 1,395 10,710 773 $15,372 $ 541 125 217 8,600 301 $9,784 $ 1,321 8,871 1,270 $11,462 $ 47 5,327 2,334 $7,708 Required: 1-a. 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.) 1-b. Which company has the better ratio? multiple choice 1 ACME Corporation Wayne Enterprises 2-a. 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.)
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