Airline Accessories has the following current assets: cash, $97 million; receivables, $89 million; inventory, $177 million; and other current assets, $13 million. Airline Accessories has the following liabilities: accounts payable, $88 million; current portion of long-term debt, $30 million; and long-term debt, $18 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, $97 million; receivables, $89 million; i...
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