To follow are the balance sheets for Metro Corporation and selected comparative competitor data. (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the quick (acid-test) ratios of other corripanies.) Use the data to answer the following questions. 1 Calculate Metro's quick (acid-test) ratio at December 31, 2016, and 2017. 2 Use the comparative information from the table given for Orleans Electric, Inc., O'Neil Company, and Lavallee Foods Corporation. Is Metro's quick (acid-test) ratio for 2018 and 2017 strong, average, or weak in comparison? 1. Calculate Metro's quick acid-test) ratio at December 31, 2018 and 2017 Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviation used: ST = short-term. Cash* = Cash and cash equivalents. Net receivables * = Net current receivables. Enter the amounts in millions as provided to you in the problem. Round the ratios to two decimal places, X.XX.) Quick ratio More Info + 2018 2017 + Quick (acid-test) Ratio 0.74 Company Orleans Electric, Inc. (Utility) O'Neil Company Department store) Lavallee Foods Corporation (Grocery store) 0.63 0.66 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? part remaining Clear All Check Answer S12 i Data Table B Question Help - X To follo i Data Table Metro Corporation Balance Sheet (Adapted) December 31, 2018 and 2017 1. Cald Increase (Decrease) Amount Percentage Metro Corportion Balance Sheets (Adapted) December 31, 2018 and 2017 2018 2017 Select probler Increase (Decrease) Amount Percentage 2018 (Dollar amounts in millions) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Income tax payable Short-term debt 2017 $ 966 S 880 $ 108 2018 12.3 % (36.4) 42 08 (24) 2017 116 12 10.3 128 66 S 980 S 230 68 Other (2) (Dollar amounts in millions) Assets Current assets: Cash and cash equivalents Short-term investments Receivables, net Inventories Prepaid expenses and other assets 1,210 S 14 (2.9) 23.5 % (70.8) (142) Total current liabilities 1,202 1,110 92 230 268 8.3 22.8 678 32 45.7 Long-term debt Other liabilities 3,648 1,128 2,970 1.096 5.176 102 292 70 302 32 2.9 (10) (3.3) 5,978 802 1,848 180 15.5 10.8 3,660 3,386 274 8.1 Total current assets Property, plant, and equipment, net Intangible assets Other assets 2 - Total liabilities Stockholders' equity: Common stock Relained earrings Accumulated other comprehensive (loss) Total stockholders' equity 20.3 2 1.640 (188) 1,020 826 848 730 172 96 (8.5) 1,534 (160) 13.2 (108) ( 28 14.0 S 7,354 $ 6,632 S 722 Total assols 10.9% % 1,376 1.456 (80) (5.5) $ 7,354 S Total liabilities and stockholders' equity 6.632 $ 722 10.9 % Print Done Print Done Choose ? 1 part remaining Clear All Check