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Airline Accessories has the following current assets: cash, $107 million; receivables, $99 million; inventory, $187...

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Accounting

Airline Accessories has the following current assets: cash, $107 million; receivables, $99 million; inventory, $187 million; and other current assets, $23 million. Airline Accessories has the following liabilities: accounts payable, $108 million; current portion of long-term debt, $40 million; and long-term debt, $28 million.

Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories

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