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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, S45 million; and long-term debt, S33 million Based on these amounts, calculate the current ratio and the acid-test ratio for Ainline Accessories. (Enter your answers in millions (i.e. 5,000,000 should be entered as 5).) Current Ratio Acid-Test Ratio
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