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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, $100 million; receivables, $92 million; inventory, $180 million; and other current assets, $16 million. Airline Accessories has the following liabilities: accounts payable, $94 million; current portion of long-term debt, $33 million; and long-term debt, $21 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline 10 Accessories.

Reference no: EM133072248

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