Airline Accessories has the following current assets: cash, $101 million; receivables, $93 million; inventory, $181 million; and other current assets, $17 million. Airline Accessories has the following liabilities: accounts payable, $96 million; current portion of long-term debt, $34 million; and long-term debt, $22 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.)
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Airline Accessories has the following current assets: cash, $101 million; receivables, $93 million;...
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