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Calculate the current ratio and the acid-test ratio

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Question - Airline Accessories has the following current assets: cash, $101 million; receivables, $93 million; inventory, $181 million: and other current assets, $17 million. Airline Accessories has the following liabilities: accounts payable, $96 million: current portion of long-term debt. $34 million: and long-term debt. $22 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories. (Enter your answers in millions, not in dollars.)

Reference no: EM131576677

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