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Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows (5 in ons) Current assets Ferris
Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows (5 in ons) Current assets Ferris Air Oceanic Airlines Cash and cash equivalents $1,185 $ 4,284 Current investments 3,064 1,311 Net receivables 771 1,884 Inventory 485 348 Other current assets 236 597 Total current assets 55,735 $ 8,344 Current abilities: Current debt 56,780 $ 7,474 Accounts payable 2,632 2,367 Other current liabilities e 1,564 Total current liabilities 59,412 $11,405 Required: 1-o. Calculate the current ratio for Ferris Air and Oceanic Airlines (Enter your answers in millions. For example, 55,500,000 should be entered as 5.5.) Current Ratio Ferris All Oceanic Airlines 1-b. Which Airlines has the better current ratio? O Ferris Air O Oceanic Airlines 2-a. 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 2.b. Which Airlines has the better current ratio? O Ferris All O Oceanic Airlines
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