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Key figures for the recent two years of both Apple and Google follow. Apple Google $ millions Current Year Prior Year Current Year Prior Year

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. Do Apples current ratio underperform or outperform the industry (assumed) average ratio of 2.0? 3-b. Do Googles current ratio underperform or outperform the industry (assumed) average ratio of 2.0?

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