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The Copper Grill has the following current assets: cash, $14 million; receivables, $54 million; inventory, $41 million; and other current assets $5 million. The Copper
The Copper Grill has the following current assets: cash, $14 million; receivables, $54 million; inventory, $41 million; and other current assets $5 million. The Copper Grill has the following liabilities: accounts payable, $39 million; current portion of long-term debt, $7 million; and long-term debt, $14 million. Based on these amounts, calculate the current ratio and the acid-test ratio for The Copper Grill. (Round your answers to 2 decimal places.)
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