Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are...

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Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows. ($ in millions) ACME Corporation Wayne Enterprises Current assets: Cash and cash equivalents $535 $145 Current investments 5 519 159 Net receivables 510 66 Inventory 10,699 7,209 Other current assets 1,378 115 Total current assets. $13,127 $8,054 k Current liabilities: Current debt $7,221 $4,223 Accounts payable 1,667 9211 Other current liabilities 1,033 2,582 nces Total current liabilities $9,921 $7,726 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. 1-b. Which company has the more favorable ratio? 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. 2-b. Which company has the more favorable ratio? Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows. ($ in millions) ACME Corporation Wayne Enterprises Current assets: Cash and cash equivalents $535 $145 Current investments 5 519 159 Net receivables 510 66 Inventory 10,699 7,209 Other current assets 1,378 115 Total current assets. $13,127 $8,054 k Current liabilities: Current debt $7,221 $4,223 Accounts payable 1,667 9211 Other current liabilities 1,033 2,582 nces Total current liabilities $9,921 $7,726 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. 1-b. Which company has the more favorable ratio? 2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. 2-b. Which company has the more favorable ratio?