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I got some of this question wrong. Please provide an explanation on how to get correct answers. thank you!! Selected financial data regarding current assets

I got some of this question wrong. Please provide an explanation on how to get correct answers. thank you!! image text in transcribed
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Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises 325 ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities Current debt Accounts payable Other current liabilities Total current liabilities $ 533 5 611 10,548 1,273 $12,970 $ 530 246 9,009 295 $10,405 $ 9,021 1,847 1.164 $12,032 $ 4,288 1,101 2,415 $ 7,804 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Current Ratio $ ACME Corporation 12.970 1.078 12,032 Total current assets Total current liabilities $ Wayne Enterprises 10.405 1.333 7,804 $ $ 1-b. Which company has the better ratio? ACME Corporation Wayne Enterprises 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Acid-Test Ratio Quick assets Total current liabilities ACME Corporation $ 1.144 0.105 $ 10,868 $ $ Wayne Enterprises 571 5,389 0.106 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Acid-Test Ratio Quick assets Total current liabilities ACME Corporation $ 1,144 0.105 $ 10,868 Wayne Enterprises 571 5,389 0.106 $ 2-b. Which company has the better ratlo? ACME Corporation Wayne Enterprises

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