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The most recent data from the annual balance sheets of Fusionista Inc. and Ocean c Inc. are given. Balance Sheet For the Year Ending on
The most recent data from the annual balance sheets of Fusionista Inc. and Ocean c Inc. are given. Balance Sheet For the Year Ending on December 31 (Millions of dollars) Fusionista Oceanic Fusion ista Oceanic Liabilities & Equity Assets Current liabilities: Current assets: Cash 2,029 Accounts payable 3,157 Accounts receivable 1,155 743 als 696 2,178 Notes payable Inventories 3,388 3,944 3,712 7,700 Total current assets 4,950 Total current liabilities 4,640 3,712 Net fixed assets: Long-term bonds 5,672 4,538 10,312 Net plant and equipment 6,050 Total debt 6,050 8,250 Common equity Common stock 2,235 1,788 Retained earnings 1,203 962 Total common equity 3,438 2,750 11,000 Total assets 13,750 11,000 Total liabilities and 13,750 equity Oceanic Inc.'s quick ratio is 0.75 and its current ratio is 33 whereas Fusionista Inc.'s quick ratio is 0.93 and its current ratio is 66
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