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Calculate the current ratio and the acid-test ratio

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Question - Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided:

($ in millions)

Current assets:

Cash and cash equivalents $499

Current investments 86

Net receivables 275

Inventory 100

Other current assets 127

Total current assets $1,087

Current liabilities:

Accounts payable $1,005

Short-term debt 654

Other current liabilities 959

Total current liabilities $2,618

Required - Calculate the current ratio and the acid-test ratio for Queen's Line.

Reference no: EM133168086

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