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Chapter 08 Homework A Saved 3 Exercise 8-17A Calculate and analyze liquidity ratios...

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Chapter 08 Homework A Saved 3 Exercise 8-17A Calculate and analyze liquidity ratios (LO8-6) 2.5 points Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: eBook ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Accounts payable Short-term debt Other current liabilities Total current liabilities $ 351 76 204 114 134 $ 879 Hint A Print $1,190 689 924 $2,803 References Required: 1. Calculate the current ratio and the acid-test ratio for Queen's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.) Current Ratio Acid-Test Ratio

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