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Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: Required: 1 - a . Calculate the

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

follows:

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?

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