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9 value 1.00 points Exercise 8-15 Calculate and analyze liquidity ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Queen's Line, a
9 value 1.00 points Exercise 8-15 Calculate and analyze liquidity ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided (S in millions) Current assets Cash and cash equivalents Current investments Net receivables Inventory Other current assets S 334 70 232 120 137 Total current assets $ 893 Current liabilities Accounts payable Short-term debt Other current liabilities S 1,135 704 909 Total current liabilities $ 2,748 Required 1. Calculate the current ratio and the acid-test ratio for Queen's Line. (Enter your answers in millions (i.e. 5,000,000 should be entered as 5).) Current Ratio Acid-Test Ratio
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