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Airline Accessories has the following current assets: cash, $104 million; receivables, $96 million; inventory, $184 million; and other current assets, $20 million. Airline Accessories has
Airline Accessories has the following current assets: cash, $104 million; receivables, $96 million; inventory, $184 million; and other current assets, $20 million. Airline Accessories has the following liabilities: accounts payable, $102 million; current portion of long-term debt, $37 million; and long-term debt, $25 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be
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