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pinnky98381
pinnky98381
05.05.2020 • 
Business

Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents $ 429 Current investments 94 Net receivables 224 Inventory 108 Other current assets 131 Total current assets $ 986 Current liabilities: Accounts payable $ 1,010 Short-term debt 674 Other current liabilities 939 Total current liabilities $ 2,623 Required: 1. Calculate the current ratio and the acid-test ratio for Queen's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.)

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