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Selected financial data regarding current assets and current liabilities for Duchess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current
Selected financial data regarding current assets and current liabilities for Duchess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory $457 84 273 98 Other current assets 126 Total current assets $1,038 Current liabilities: Accounts payable Short-term debt Other current liabilities $1,070 649 964 $2,683 Total current liabilities Required: 1. Calculate the current ratio and the acid-test ratio for Duchess's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.) Current Ratio Accounts in Ratio Amounts Acid-Test Ratio Accounts in Ratio Amounts
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