Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises,...
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Accounting
Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ($ in millions) ACME Corporation Wayne Enterprises Current assets: Cash and cash equivalents $ 503 $ 155 Current investments 7 484 Net receivables 770 76 Inventory 10,622 7,309 Other current assets 1,301 125 Total current assets $ 13,203 $ 8,149 Current liabilities: Current debt $ 7,321 $ 4,270 Accounts payable and accrued liabilities 1,677 931 Other current liabilities 1,182 2,300 Total current liabilities $ 10,180 $ 7,501 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions (i.e., $5,500,000 should be entered as 5.5).)
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