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 Current investments Net receivables Inventory $ 429 94 224 108 Other current assets. 131 Total current assets $ 986 Current liabilities: Accounts payable $1,010 Short-term debt 674 Other current liabilities Total current liabilities $2,623 939 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, $5,500,000 should be entered as 5.5.) Current Ratio Acid-Test Ratio
Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory $ 429 94 224 108 Other current assets. 131 Total current assets $ 986 Current liabilities: Accounts payable $1,010 Short-term debt 674 Other current liabilities Total current liabilities $2,623 939 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, $5,500,000 should be entered as 5.5.) Current Ratio Acid-Test Ratio
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
answer must be in table format or i will give down vote
Transcribed Image Text:Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is
provided:
($ in millions)
Current assets:
Cash and cash equivalents
Current investments
Net receivables
Inventory
$ 429
94
224
108
Other current assets.
131
Total current assets
$ 986
Current liabilities:
Accounts payable
$1,010
Short-term debt
674
Other current liabilities
Total current liabilities $2,623
939
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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