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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

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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 companies.) Use the data to answer the following questions 1. Calculate Metro's quick (acid-test) ratio at December 31, 2018, 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 2018 ) 2017 )/ Choose from any list or enter any number in the input fields and then click Check Answer. 1 part Clear All Check Answer remaining Metro Corportion Balance Sheets (Adapted) December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 2017 (Dollar amounts in millions) Assets Current assets: Cash and cash equivalents Short-term investments Receivables, net Inventories $ 1,210 $ 230 980 $ 48 14 (34) (38) 23.5 % (70.8) (14.2) 45.7 230 268 102 70 32 292 302 (10) Prepaid expenses and other assets (3.3) 1,848 1,668 180 Total current assets 10.8 3,386 274 8.1 Property, plant, and equipment, net Intangible assets 3,660 1,020 826 848 172 20.3 730 96 Other assets 13.2 $ 7,354 $ 6,632 $ 722 Total assets 10.9 % Increase (Decrease) Amount Percentage 2018 2017 (Dollar amounts in millions) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Income tax payable Short-term debt $ 966 $ 860 $ 106 42 66 12.3 % (36.4) 10.3 128 (24) 12 (2) 116 68 66 Other (2.9) Total current liabilities 1,202 1,110 92 8.3 Long-term debt 678 22.8 3,648 1,128 2,970 1,096 32 Other liabilities 2.9 Total liabilities 5,978 5,176 802 15.5 Stockholders' equity: Common stock 2 2 Retained earnings 2 1,640 (186) 1,534 (160) (6.5) (106) 26 Accumulated other comprehensive (loss) 14.0 1,376 1,456 (80) Total stockholders' equity (5.5) 7,354 $ 6,632 $ 722 Total liabilities and stockholders' equity 10.9 % 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

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