The Juice Company reported the following comparative information at December 31, 2021, and December 31, 2020 (amounts in millions and adapted): 

Requirements

1. Calculate the following ratios for 2021 and 2020: 

a. Current ratio

b. Debt ratio

2. During 2021, The Juice Company issued $1,640 million of long-term debt that was used to retire short-term debt. What would the current ratio and debt ratio have been if this transaction had not been made?

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Current assets.... Total assets. Current liabilities..... Total stockholders' equity. Net sales..... Net income........... 2021 $21,100 71,800 18,500 30,300 34,600 11,575 2020 $16,800 47,800 13,100 24,600 29,600 7,170