a$)$ For the corporations compute the current ratio,

which you compute by dividing the total current assets by the

total current liabilities $$ data is located on the balance sheet

of each company. Please show your work. If you just show

the answer, you will not receive any points.

$($b$)$ Compute the acid test or quick ratio, which you compute by

dividing the total current assets $($minus prepaid insurance &

all the inventory accounts$)$ by the total current liabilities.

Some corporations do not show prepaid insurance on their

balance sheet. $($Because of the materiality concept, they

record it as an expense rather than a current asset$).$ If any of

the corporations do this, then ignore it in your

calculation of the ratio. Please show your work. If you just

show the answer, you will not receive any points