Key figures for the recent two years of both Apple and Google follow.

Apple Google

$ millions Current Year Prior Year Current Year Prior Year

Current assets $128,645 $106,869 $124,308 $105,408

Current liabilities 100,814 79,006 24,183 16,756

Required

1.Compute current ratios for (a) Apple and (b) Google for the two years reported above.

2.In the current year, which company has the better ability to pay short-term obligations according to the current ratio?

3-a.Does Apple's current ratio under perform or outperform the industry (assumed) average ratio of 2.0?

3-b.Does Google's current ratio under perform or outperform the industry (assumed) average ratio of 2.0?