Problem 8-9A Calculate and analyze ratios (L08-6) Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises ($ 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 $ 570 6 537 10,683 1,227 $13,023 $ 195 487 116 7,709 165 $8,672 $ 7,721 1,717 1,173 $10,611 $4,370 971 2,480 $7,821 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.) 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 Wayne Enterprises Total current assets TTTTTTTTTTT Total current liabilities 1-b. Which company has the better ratio? Wayne Enterprises O ACME Corporation 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.) ACME Corporation Wayne Enterprises Acid-Test Ratio Quick assets Total current liabilities mm 2-b. Which company has the better ratio? O Wayne Enterprises O ACME Corporation