Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises ($ 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 Req 1A $499 7 751 10,586 1,344 $13,187 Req 1B $8,621 1,807 1,179 $11,607 Req 2A Required: 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? $285 530 206 Complete this question by entering your answers in the tabs below. 8,609 255 $9,885 Req 2B $4,451 1,061 2,381 $7,893 Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example,

Selected financlal data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. 1.b. Which company has the more favorable ratio? 2-0. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. 2.b. Which company has the more favorable ratio? Complete this question by entering your answers in the tabs below