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

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

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