Airline Accessories has the following current assets: cash, $106 million; receivables, $98 million; inventory, $186...
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Accounting
Airline Accessories has the following current assets: cash, $106 million; receivables, $98 million; inventory, $186 million; and other current assets, $22 million. Airline Accessories has the following liabilities: accounts payable, $106 million; current portion of long-term debt, $39 million; and long-term debt, $27 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.)
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