Problem 8-9A Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Corporation Wayne Enterprises $ 407 $ 165 7,409 ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current Habilities: Current debt Accounts payable Other current liabilities Total current liabilities 706 10,653 1,215 $12,987 135 $8,258 $4,229 $ 7,421 1,687 1,193 $10.301 2,375 $7,545 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 Total current assets Total current liabilities I $ $ ACME Corporation 12.987 10,301 Wayne Enterprises 6,258 1.094 7.545 $ $ 1.261 1-b. Which company has the better ratio? Wayne Enterprises 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.) Acid-Test Ratio ACME Corporation Wayne Enterprises Total current assets h 10.30 0. 2-b. Which company has the better ratio