Question
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 $314 Current investments 87 Net receivables 239 Inventory 130 Other current assets 142 Total current assets $912 Current liabilities: Accounts payable $1,165 Short-term debt 729 Other current liabilities 884 Total current liabilities $2,778 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 \begin{tabular}{|c|c|} \hline Accounts in Ratio & Amounts \\ \hline & \\ \hline Accounts in Ratio & \\ \hline Acid-Test Ratio & Amounts \\ \hline & \end{tabular}
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