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Selected financial data regarding current assets and current liabilities for Princess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current
Selected financial data regarding current assets and current liabilities for Princess's Line, a competitor in the cruise line industry, is provided:
($ in millions) | |
---|---|
Current assets: | |
Cash and cash equivalents | $464 |
Current investments | 88 |
Net receivables | 277 |
Inventory | 102 |
Other current assets | 128 |
Total current assets | $1,059 |
Current liabilities: | |
Accounts payable | $1,050 |
Short-term debt | 659 |
Other current liabilities | 954 |
Total current liabilities | $2,663 |
Required: 1. Calculate the current ratio and the acid-test ratio for Princess's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.)
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