Business, 14.04.2020 00:40, alexandriasmith727

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 $ 464
Current investments 88
Net receivables 277
Inventory 102
Other current assets 128
Total current assets $ 1,059
Current liabilities:
Accounts payable $ 1,050
Short-term debt 659
Other current liabilities 954
Total current liabilities $ 2,663

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.)

Answers: 1

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Selected financial data regarding current assets and current liabilities for Queen's Line, a competi...