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Airline Accessories has the following current assets: cash, $112 million, receivables, $104 million; inventory, $192 million, and other current assets, $28 million. Airline Accessories has
Airline Accessories has the following current assets: cash, $112 million, receivables, $104 million; inventory, $192 million, and other current assets, $28 million. Airline Accessories has the following liabilities: accounts payable, $118 million; current portion of long-term debt, $45 million; and long-term debt, $33 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 entered as 5.5.) Current Ratio Current assets Current liabilities 0 Acid-Test Ratio Quick assets 0 Current liabilities
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