Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: ($ in millions) Oceanic Ferris Air Airlines Current assets: Cash and cash equivalents Current investments Net receivables Inventory $1,275 $5,184 3,154 1,401 861 1,894 575 438 Other current assets 320 687 Total current assets $6,185 $9,604 Current liabilities: Current debt Accounts payable $6,225 $6,809 2,722 2,457 Other current liabilities Total current liabilities Required: 0 1,654 $8,947 $10,920 1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. 1-b. Which company has the more favorable current ratio? 2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. 2-b. Which company has the more favorable acid-test ratio? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 28 Calculate the current ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Current Ratio Ferris Air Oceanic Airlines eg 1A Req 1B > Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: ($ in millions) Oceanic Ferris Air Airlines Current assets: Net receivables Cash and cash equivalents Current investments Inventory $1,275 $5,184 3,154 1,401 861 1,894 575 438 Other current assets 320 687 Total current assets $6,185 $9,604 Current liabilities: Current debt Accounts payable $6,225 $6,809 2,722 2,457 Other current liabilities Total current liabilities Required: 0 1,654 $8,947 $10,920 1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. 1-b. Which company has the more favorable current ratio? 2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. 2-b. Which company has the more favorable acid-test ratio? Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2A Req 2B Which company has the more favorable current ratio? Which company has the more favorable current ratio? Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: ($ in millions) Oceanic Ferris Air Airlines Current assets: Net receivables Cash and cash equivalents Current investments Inventory $1,275 $5,184 3,154 1,401 861 1,894 575 438 Other current assets 320 687 Total current assets $6,185 $9,604 Current liabilities: Current debt $6,225 $6,809 Accounts payable 2,722 2,457 Other current liabilities 0 1,654 Total current liabilities $8,947 $10,920 Required: 1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. 1-b. Which company has the more favorable current ratio? 2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. 2-b. Which company has the more favorable acid-test ratio? Complete this question by entering your answers in the tabs below. Req 1A Req 18. Req 2A Req 2B Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Acid-Test Ratio Ferris Air Oceanic Airlines Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: ($ in millions) Oceanic Ferris Air Airlines Current assets: Net receivables Cash and cash equivalents Current investments Inventory $1,275 $5,184 3,154 1,401 861 1,894) 575 438 Other current assets 320 687 Total current assets $6,185 $9,604 Current liabilities: Current debt $6,225 $6,809 Accounts payable 2,722 2,457 Other current liabilities 0 1,654 Total current liabilities $8,947 $10,920 Required: 1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. 1-b. Which company has the more favorable current ratio? 2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. 2-b. Which company has the more favorable acid-test ratio? Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2A Req 28 Which company has the more favorable acid-test ratio? Which company has the more favorable acid-test ratio? < Req 2A Req 20