Question: Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: Ferris Air Oceanic Airlines $1,265 3,144

Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: Ferris Air Oceanic Airlines $1,265 3,144 851 565 ($ 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 $ 5,084 1,391 1,884 428 677 $ 9,464 310 $6,135 $6,539 2,712 $ 6,674 2,447 1,644 $10,765 $9,251 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.) Ferris Air Oceanic Airlines Current Ratio Total current assets
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