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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
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 | $ 407 | $ 165 |
Current investments | 6 | 463 |
Net receivables | 706 | 86 |
Inventory | 10,653 | 7,409 |
Other current assets | 1,215 | 135 |
Total current assets | $ 12,987 | $ 8,258 |
Current liabilities: | ||
Current debt | $ 7,421 | $ 4,229 |
Accounts payable and accrued liabilities | 1,687 | 941 |
Other current liabilities | 1,193 | 2,375 |
Total current liabilities | $ 10,301 | $ 7,545 |
2-a. Calculate the acid-test (quick) ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. (i.e., $5,500,000 should be entered as 5.5.)) why 2,334 for ACME corporation (quick assets is wrong ?? as well as why 849 for Wayne enterprises (quick assets is wrong ?? |
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