Score: 0 of 1 pt 6 of 10 (0 complete) HW Score: 09 S12-6 (book/static) Question To follow are the balance sheets for Metro Corporation and selected comparative competitor data (Click the icon to view the assets section of the balance sheet.) Use the data to answer the following questions 1. Calculate Metro's quick (acid-test) ratio at December 31, 2018 and 2017 2. Use the comparative information from the table given for Orleans Electric, Inc. O'Neil Company, and Lavallee Foods Corporation Is Metro's (acid-test) ratio for 2018 and 2017 strong, average, or weak in comparison? (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet) (Click the icon to view the quick (acid-test) ratios of other companies.) 1. Calculate Metro's quick (acid-test) ratio at December 31, 2018, and 2017 Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviation used ST = short-term Cash = Cash and cash equivalents. Net receivables" = Net current receivables Enter the amounts in millions as provided to you in the problem Round the ratios to two decimal places, XXX) + Quick ratio + ) 2018 ( 2017 More Info Quick (acid-test) Ratio 0.74 Company Orleans Electric, Inc (Utility) O'Neil Company (Department store) Lavallee Foods Corporation (Grocery store) 0.63 0.66 Print Done Data Table Calculate Metro's quick (acid-test) ratio at December 31, 2018, and 2017 Use the comparative information from the table given for Orleans Electric, Inc., O'Neil Company, and Lavallee Foods (acid-test) ratio for 2018 and 2017 strong, average, or weak in comparison? Data Table Metro Corporation Balance Sheet (Adapted) December 31, 2018 and 2017 * Net C Increase (Decrease) Amount Percentage 2018 2017 Metro Corportion Balance Sheets (Adapted) (Dollar amounts in millions) Liabilities and Stockholders' Equity December 31, 2018 and 2017 Current liabilities: Increase (Decrease) Amount Percentage $ 966 $ 860 $ 106 2017 Accounts payable Income tax payable 12.3 % (36.4) 2018 (Dollar amounts in millions) 42 66 (24) Assets 128 12 116 Short-term debt 10.3 Current assets: 66 68 (2) (2.9) 230 Other 1.210 $ 23.5 % 980 S Cash and cash equivalents 1,202 1.110 92 8.3 48 14 Short-term investments (34) Total current liabilities 2.970 678 22.8 Receivables, net 230 268 (70.8) (14.2) 45.7 (38) Long-term debt 3,648 1.128 1,096 32 29 32 102 70 Inventories Other liabilities 302 292 (10) 802 5,176 5,978 (3.3) 15.5 Prepaid expenses and other assets Total liabilities 1.848 1.668 180 10.8 Total current assets Stockholders' equity: 3 386 3.660 274 8.1 2 Common stock Property, plant, and equipment, net Intangible assets 172 20.3 (6.5) 1,534 (160) 1,640 (186) (106) 26 1,020 826 848 730 96 132 14.0 Other assets Retained earnings Accumulated other comprehensive (loss) Total stockholders' equity $ 7354 5 6.632 5 722 10.9 % 1,376 (80) 1,456 (5.5) Total assets 7,354 $ $ 722 6,632 $ 10.9 % Total liabilities and stockholders' equity Print Done Print Done Chec