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Rivera Sports Company reported the following in recent balance sheets (amounts in millions). June 30, December (in millions) 2019 31, 2018 Assets Current Assets Cash
Rivera Sports Company reported the following in recent balance sheets (amounts in millions). June 30, December (in millions) 2019 31, 2018 Assets Current Assets Cash $ 276 $ 400 Accounts Receivable 631 402 Inventory 767 522 Prepaid Rent 42 37 Total Current Assets 1,716 1,361 Software 197 152 Equipment 670 500 Total Assets $ 2,583 $ 2,013 Liabilities and Shareholders' Equity Liabilities Current Liabilities Accounts Payable $ 409 $ 415 Notes Payable (short-term) 0 2 Income Tax Payable 39 5 Total Current Liabilities 448 422 Notes Payable (long-term) 92 73 Total Liabilities 540 495 Stockholders' Equity Common Stock 86 35 Retained Earnings 1,957 1,483 Total Shareholders' Equity 2,043 1,518 Total Liabilities and Shareholders' Equity $ 2,583 $ 2,013 NU ON What would Rivera Sports current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Current Ratio Numerator Current Assets $ $ 2,573 530 4.85 Denominator Current Liabilities
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